Higher Interest Rates Mean Less Buying Power – The cost of waiting can be huge!

What is the cost of waiting when considering selling or buying a home?  The Mortgage Bankers Association is predicting rates in the low 5.0% range by 2015.

http://www.mortgagebankers.org/NewsandMedia/PressCenter/86783.htm

With interest rates predicted to continue to go up this year, home affordability and individual buyer buying power will go down.  If you are on the fence, now may be a good time to buy if you are able.  Here is a comparison of monthly payments for the same size mortgage originated in November of 2012 versus November of 2013.  A payment increase of over $200 per month!4z3BU

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