[NDizzle]

If you have a second home at 3% that means your first home is paid off. You wouldn’t get that rate for an income property.

There are several good reasons for selling it, mostly emergency or retirement reasons. I would keep it and rent it. Inflation is more than double that 3%, “officially”.

What a great problem to have.

Anecdotal data, regarding value drops. I’m in a 30 fixed at 3% in Arkansas. Houses I was looking at in a new subdivision were around $410 when I was looking, this time 2020. They are now in the $700s, and that’s with the current interest rate. So 3 years of mortgage payments, down payments, you’re looking at an outstanding balance on the loan of… around $300k?

The value drop people think needs to happen probably won’t ever happen. Especially since the USD is turning into Monopoly money due to terrible fiscal policy.

[ec109685]

Good advice. In our particular case, we bought a new home and are letting family member stay at old one, so have two mortgages.