The longer a buyer waits, the higher the mortgage payment will be if rates continue to increase (as is projected by Fannie Mae, Freddie Mac, the National Association of Realtors and the Mortgage Bankers Association). Read full KCM article
The chart in this post (credit KCM) shows the monthly difference in costs when interest rates rise, and also long term costs.
$70,000 more! Talk to your real estate agent today.
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photo credit http://www.flickr.com/photos/68751915@N05/6870876951/