This Month in Real Estate: August 2010

This month in real estate explores why waiting for a further price drop–at the risk of rising interest rates–may not be the best plan. Rates are at a 50 year low today, at approximately 4.6%. On $179,000 purchase (I bet you DC area readers would love that price for a home?!) at 4.75% and 20% down, a 10% drop in price combined with just a 1% increase in interest rates would mean a HIGHER monthly payment.

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