Example, take a home that is priced at $100,000 and the interest rates are at 5% for a 30 year loan. The monthly payment would be $536.82.
Now let's say they wait and the housing market drops another 10%. (good) The home is now $90,000, but the interest rate go up to 6%( bad). The new monthly payments are now $540 per month.
With the volatile market that we live in, waiting isn't always the best option. Why pay more when you can start making your dream of home ownership a reality today while interest rate are historically low and homes are on sale?
Do the numbers!