Why Wait??? The Hazard Of Timing The Market - 01/25/09 04:38 PM
Buyers who choose to wait until prices come down are also gambling that interest rates will hold steady or drop. What is not widely understood is the impact interest rates can have on the monthly costs of home ownership. Even a 10% drop in home prices is immediately nullified by a mere 1% point increase in interest rates on a 30-year mortgage loan.
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