Low Interest Rates have been the Glue holding the Housing Market Together

Low Interest Rates have been the saving factor to letting borrowers get into there homes. Home prices and costs have been like a runaway train with no conductor on board to keep it steady. Now in many areas of the country the train of rising prices has been derailed which has been a help for home buyers. When Interest Rates go up (and They WILL) as problems come up with the economy such as a weak dollar, rising oil prices, increase costs, etc. causing Inflation it could very easily bring the housing market to it knees. Home ownership is the American Dream but not everyone gets their dream fulfilled at the same time. Borrowers need to count the true cost of home ownership beside the initial purchase price. Does it fit into their financial budget at this time. If not they need to wait and balance their budget and save more to cover the cost they will incur along the way. Many home owners are buying home that are way beyond their financial means (to keep up with the Jones?) and it can mean financial ruin. Count the costs and buy within your means and your anxiety levels will be much lower and you can keep from getting Ulcers staying up at night with worries of how to pay the bills. www.rateinformer.com