WAIT OR BUY NOW WHILE INTEREST RATES ARE LOW
Sometimes I am told by buyers they are going to wait until prices hit rock bottom. With the Prime at STILL ¼%, the question you might want to ask is it better to wait for prices to come down or buy now while interest is at the lowest rate in years.
If housing prices come down 10% and the interest rate goes up 1%, you will have a higher monthly loan payment. If you buy now while interest rates are low, and negotiated a good deal in what is clearly a buyer’s market, you will mostly likely come out ahead.