I have been encouraging clients to try and buy as soon as possible. While MRIS has indicated overall improvement in existing home sales, they expect prices to drop more in the next quarter, creating an interesting conundrum: Wait until tomorrow because maybe it will be cheaper! That has been the cause of much of the drop in home sales for the past few years. I will explain why now will be the best time to buy.
Vince Farrell at CNBC (you can read his article here) echoes some of these concerns in his article today. It appears that interest rates may be affected by the issuance of billions more in Treasury bonds that helped drop the Dow Jones average by 150+ point yesterday. It also saw a 0.12%