Dennis' Mortgage Blog

The Wall Street Journal has two very good articles on home buying and prices.  I will not try to recreate what the professional writers at the WSJ have written, below are links to the stories.

Over the weekend Ruth Simon and Jessica Silver-Greenberg wrote an excellent article titled "Why It's Time To Buy" that covers affordability, rates, market trends, even psychology.  With data from multiple sources and input from economists, professors and industry analysts, Simon and Silver-Greenberg lay out a case for making the move to purchase a new home.

Today Amy Hoak has a column in the WSJ's on-line MarketWatch page analyzing home prices and the conclusion that homes on the lower end of the market have been hit hardest by the housing bubble collapse.  Primarily because the lower ends of the market increased more than the upper ends.  In "Cheaper homes hit hardest by price declines" (subscription may be required) Hoak looks at a Harvard study on home prices. 

What do you think? Is it the right time to purchase a new home with affordability at levels not seen in over a decade?  Or is there more upside than downside to waiting to see if prices decline further and rates hold steady at historically low levels?  For most of Coastal California prices have not been that soft in most markets, those who have been waiting for further price declines in some neighborhoods they may have missed the bottom--don't miss the bottom, or near bottom, on interest rates as well.

Mortgage rates continue to remain low for the time being.  Call or email Dennis today to determine your purchasing power for a new home loan or monthly savings from a refinance.  Direct dial 562-472-1118