Interest rates could signal time to get off the fence

The real estate market is a lot like the stock market.  People tend to buy when prices are rising.   In reality,  they should be buying when prices are low.  When stock and real estate prices are going up, buyers are lulled into a sense of confidence.  I am not saying it is a false sense of confidence, I am not a a financial expert.  I am just calling what I see.  Looking back at the buying frenzie in 2003,  I believe the buyers today are in a better position to see growth in their investment.  Those investors who have the stomach for risk, are typically the ones who see the big profits, when their instincts are correct. 

Interest rates are going up, for a second time this month.   For buyers who want to take advantage of the bargain prices, it may be time to get off the fence.  If interest rates continue to trend up, buying will become less affordable.  I reiterate that I am not a financial expert, but I can say with confidence that interest rate is the number one factor in determining the affordability in your mortgage.  Interest rate will affect your payment throughout the duration of the loan.  So if you want to get a win/win of low price and low mortgage interest rate, now might be the time to make a move.