Good news! So far this year, sales of existing homes in Wisconsin were down
6.9% with median prices down just 0.9%. So prices have stabilized. Interest rates
are creeping up and predicted to go higher throughout 2011. Obviously now is the
time to buy!
If you think that prices are still going to go down and you are hoping for that, just
take a look at this example. It shows that with increased interest rates, you may
still be better off buying now at slightly higher prices.
A. Mortgage for $150,000 at an interest rate of 4.5%, your principal and
interest payments will be $760.50
B. Mortgage for $145,000 at an interest rate of 5%, your principal and interest
payments will be $778.6
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