I posted yesterday (and in the past) that rates have very little to do with people's decision whether or not to buy a home. I mentioned that eligibility and people's expectation of where housing prices are going are much bigger factors.

I received some comments that said that people's uncertainty about their joba and their income is also a big factor. That is absolutely true. My point is that even when the job losses stop or at least slow down; I still believe that rates won' t play as big a role in the decision making process as their ability to get a loan for as much as they want or their expectation of where the price of a home is going.