So t sounds like you are basing a projection for a market bottom on the pricing being static in this area for a few months? That could be. However I believe that longer term mortgage rates will have a greater bearing on pricing then most other factors. I think how you plan to finance your purchase should have some bearing on you decision. If you plan to finance it heavily then yes it may be in your better interest to lock in the low rate and static payment in exchange for potential further depreciation. If you are planning on using a higher portion of cash then it may be better to wait.
