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Buy Now or Buy Later?

If you are a prospective buyer waiting to buy until home prices come down further still, then please look at this chart which compares your savings from decreasing home prices with rising interest rates.

Home loan rates have risen nearly 3/4 of a point since early November 2010.  Of course, all real estate is local, but it is possible that higher interest rates and a shadow inventory of bank-owned properties could cause further price declines. (Another alternative is that an improved economy and employment picture stimulates home demand and keeps prices stable, despite higher interest rates.)