Although the tax credit is now over, it’s still a great time to buy with rates so low!
According to MSN.com “Every 1 percentage-point increase in mortgage rates reduces a buyer’s purchasing power by 10%. I.E. taking out a 30-year mortgage for $300,000 at a rate of 5% will cost you about $1,600 a month, not including tax…es & insurance. But the same monthly payment at a rate of 6% will get you a loan of only $270,000″
