Those "in the know" completely understand that when it comes to the money that you spend on a home, interest rates are as important, if not more important, than the actual price you pay for a home.
Why?
See the article below to get a clear understanding of how interest rates so significantly affect your monthly payment.
The author, Marc Roth of BusinessWeek, writes: "if you want to buy a house, now is the time, and if you don't act soon, you will regret it. Here's why: historically low interest rates." He also goes on to say, "In fact, rates are so well below historic averages that it should make all current and prospective homeowners take notice of this once-in-a-lifetime opportunity."
Look at the orange line below...that's the 30-year fixed rate - as you can see, it's never been lower...dating back to 1970!
(Click on the graph for a larger image)
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