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Experts have long said that there’s a cost to waiting to a buy a home. That’s certainly true in a rising interest rate market. There is a misconception that as housing prices stabilize, or even decrease, that there will be a substantial savings in the buyer’s monthly payment. This may not be the case.

Today’s housing climate is typical of the cycles the mortgage industry has seen over the past 50 years, with simple supply-and-demand factors being a key factor in the sharp appreciation in home prices. Consumers may delay buying a home to save more money for the downpayment or with the hope that prices will come down.
Even if home prices do decline, the monthly housing payment may not fluctuate like consumers and even some mortgage originators expect. This is the time to educate borrowers and show them that waiting may not be the financially sound choice.