If you have been contemplating buying a home for yourself and have watched the prices go through the roof and thought that you’ve missed the boat, you are in for a surprise. You are in luck, because property prices are expected to start softening for sometime to come.
The reason for this is that interest rates have shot up and easy money that fuelled this growth is no longer available. With the Fed having raised interest rates continuously, interest rates on adjustable rate mortgages are near 6%.
Thus, it is best for you to wait till prices to soften. Buying at softer prices will enable you to build on home equity as the markets recover again later.
To read more about timing your buy, click here.
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