For most people, buying a first house or condo is exciting and a big leap into adulthood. But it doesn’t take long for the cold hard reality of mortgage payments, taxes and unexpected repairs to set in. Mortgage rates have been low for years now — long enough for young buyers to think that rates below 3 per cent are normal, but historically speaking, they’re not. It’s enough to tempt buyers who should probably save a little more and build their credit rating before buying their first home, but the rush to get into the market can leave some buyers at the mercy of unscrupulous or even criminal agents.
Read the full article at Yahoo Finance.