Not too long ago, a firestorm of posts hit Active Rain when Time Magazine published an article titles "Ignore the Headlines: by Dan Kadlec.  Well... not just AR, but the blogosphere in general was all aflutter. 

Mark and I, too, wrote about it on the Seattle PI Real Estate Professionals blog.  Beyond the Market Numbers took the perspective other factors are always at play in real estate decisions. We posited that even if one could align market forces to extract a perfect time for prices and interest rates, it remains that people have their own timing about when they need to buy.  And timing costs money in other ways besides interest rates.

Boy, are we glad we did not thump our chests and declare the article as "the answer", whatever that might mean. Turns out, numbers do not compute. Here's the chart, do the math yourself (if you need help, check the comments on our PI blog - link above):

That said, great agents understand that buying real estate can require a superior lender to keep a sharp eye on the market, available products, and trends of rates.  Knowing when to lock your rate can be an art form! Do not let your clients skimp on sound lending help.

It would be nice if we could tell every buyer, "Buy now. It will always costs more later."  Fact is, that is only true in a general sense -- other factors are always at play.  This is the very definition of our jobs: look at all the facts and create a plan to help your buyer have the best outcome possible.