I'm not an economist yet, but I play around with numbers every year. Lots of numbers.
No, it's not taxes.
That's what Tom does. He knows the federal money grabbing system better than any other human I have ever known. He teaches the new employees of the IRS how to do their job! Tom has saved my butt and huge amounts of money. For taxes I go to Tom.
These numbers pertain to details of home finance. Or refinance to be exact.
For every year that I have lived in my home I have refinanced. Each time dropping the interest rate by one full point, or more. Accordingly the monthly payment on the loan also decreases substantially.
Upon acceptance of the paperwork I have recently signed, my mortgage payment is will drop below what I was about to pay in rent four years ago. Sure the first year was a little awkward but the colossal savings in federal tax made up for the tight cash flow during that time.
Don't ever let anyone tell you that you cannot buy a home. If they do, consider said person to be a mouthbreather who knows little of the business he or she pretends to be in walk away and find someone else. Or contact me and I will point you to the right guy.
Purchasing a home is big. It's full of details and decision making that is outside the realm of expertise for many. I bought a home because one Saturday afternoon I asked a kind real estate lady how a person buys a home because the apartment management had just announced another rent increase. Before then I knew zero about the subject.
But like anything else, hectic decision making becomes second nature and then you start seeing the opportunities that make life easier and more affordable. And then you find yourself talking about the 10 year bond rate, fixed and adjustable interest, tax incentives and what not.
And by that time you'll know enough to become the master of your own economic destiny.
Speaking of tax incentives, I know of one that happens on the 15th. It's not well documented or known to many but it's a good program. The details of which can be found here (look at the unique facts on the right side).