I’m 67 and Upgrading to A $455,000 Home With a 6.2% Mortgage Rate. My Former House Had a 3.7% Rate. Am I Crazy?

CFP Board Ambassador Spencer Betts, CFP® answers a question about purchasing a new home with a higher interest rate: “If you are planning on living in this new location for more than 5 years you should do well financially. If you are staying in your new home for more than 5 years the growth on the value of the house should more than offset that startup cost and any fee when selling.”

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