According to sources, the Feds may hike Rates in 2015, not because of any fear of inflation or fears but just because they want to test the waters. They want to raise because they are expected of them.
It has also been predicted that oil prices will go down even further. If it goes to $75 a barrel this would suggest a near Zero inflation in the economy.
With both of these indicators and a number of other important facts, there may be a higher interest rate to buy your home with next year. Even if the homes go down in price, the fact that the interest rate is higher you will not be able to buy the same home for less money monthly unless you are an all cash buyer.
Take advantage of the Holiday Real Estate Market slowdown and negotiate a good price, capture a great interest rate that has just dropped again, and write off the non recuring closing costs on the 2014 tax year so that you can enjoy your new home NOW.
Contact us anytime at 949-400-1021 or MarleneDietrich@Realtor.com