The Case Against Waiting to Buy
Copy this link to your browser to read a compelling article on the impact of rising finance costs on buyers.

http://www.time.com/time/magazine/article/0,9171,1713483,00.html

Home prices have continued to decline in some areas more than others.  Let´s take a look at a few different scenarios of...
ninterest rates hikes
nhome price declines
Scenario 1:
Prices decrease by 5% and interest rates increase by 0.5%
Scenario 2:
Prices decrease by 10% and interest rates increase by 1.0%

Today

Scenario 1

Scenario 2

Home Price
$218,000

Home Price: -5%
$207,955

Home Price: -10%
$197,010

Interest Rates
6.04%

Interest Rates: + 0.5%
6.54%

Interest Rates: + 1.0%
7.04%

Your Payment
$1,054

Your Payment
$1,056

Your Payment
$1,053

nAssumptions:
n     20% down payment
n     30-year fixed rate mortgage
nData sources:
n     Interest Rates: Freddie Mac Weekly Mortgage Survey 
     Home Price: NAR 2007 Median Home Price

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