Forum about mortgage rate
Interest paid on your home mortgage is tax deductible, but rent is not. Rental payments and home values are significantly out of balance with one another in a lot of areas of the country right now. For example, to rent a house in Washington DC, your monthly rent would be significantly lower than what your monthly mortgage payments would be for the same house. The money you do not have to put toward a home mortgage can then be invested elsewhere, which could earn you more money as a renter. Being a homeowner instead of a tenant has some psychological components, as well.