[quote=hammer]I think we have a consensus that rates will move north in the future. The exact timing of this is still unknown, but it certainly could happen before the end of the year.
Is it smart to move forward with a purchase now, and lock in the lower rate, or wait until rates move higher and anticipate a further decline in pricing.
My wife and I have been dipping our toe in the water on an upper end home in Pt.Loma. We are looking at La Playa and Sunset Cliffs. These areas will certainly command a jumbo mortgage because we are in the 1.2 – 1.5 million dollar range.[/quote]
In the price range you are looking at, my advice is to wait because high end sales are flat right now. (Even with record low rates) And the economy isn’t getting any better…prices will continue to drop in the high end no matter what the mortgage rates look like later this year. But, if you find a property that you really love, who am I to stop you from buying. LOL…Just make sure you get it below list price.
