The decision to sell your home vs. rent it out is ‘complicated,’ experts say — what to know

PUBLISHED TUE, MAY 21 20242:33 PM EDTUPDATED TUE, MAY 21 20243:12 PM EDT

By: Kate Dore, CFP®

A “For Rent” sign is posted near a home in Houston, Texas, on Feb. 7, 2022.Brandon Bell | Getty Images

Many Americans are sitting on low-interest-rate mortgages and could face a decision when it is time to move: sell or rent out their existing property. That choice could be tricky, especially for those eager to buy another home.

Roughly 6 in 10 existing fixed-rate U.S. mortgage holders had an interest rate below 4% during the fourth quarter of 2023, according to the latest figures from the Federal Housing Finance Agency. By comparison, the average 30-year fixed-rate mortgage was around 7% in May.LEARN MORE…

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