Then again, it may not.Why Mortgage Rates Are Increasing. When looking at purchasing real estate, the cost of the purchase should factor in the cost of the money making the purchase. If the cost of the money goes up, the buying power of the dollar will go down; it will cost more later to buy the same house now if interest rates continue up. Having spent the last two years thinking rates could not go lower, I'm not even going to hint that rates won't stay where they are or even drop again. I don't know. We still have a large number of short-sale and bank owned homes in our market and the law of supply and demand is definitely affected by the law of 'cut your losses'. While money might cost more in the future, our local market may offset that cost by continued reduction in market prices. Ultimately, whatever informed decision you make is the right decision at the time.
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