A Reason to Buy Now?

According to projections by PMI Mortgage Insurance Company, rates for thirty-year fixed mortgages should bottom out in the second quarter of 2008 and begin a steady rise from that point. According to PMI’s projection, rates could increase by 12% between 2nd quarter 2008 and the end of 2009. Even with further price declines likely, this change should urge reluctant buyers to step forward and make their purchases as increases in their monthly mortgage payment could outweigh purchase price savings.