Interest rates, for one, are much higher.
He put 10% down and locked in a 3.5% interest rate.
For starters, interest rates are higher.
"Buying a house at more current interest rates is a significantly different financial decision than buying a house 18 months ago was," said Cramer.
Despite the higher interest rates, which make your monthly mortgage payment higher, Cramer could still comfortably afford the payment.
Persons:
Jesse Cramer, Cramer, Sellers, It's, That's, I'm, Dana Bull, Bull
Organizations:
Federal Reserve
Locations:
Rochester , New York