The Fed is believed to be planning to drop the Fed Funds Borrowing Rate at least 4 times over the next 12 months.

This means we could see Mortgage Rates back into the 5's by the end of this year.

If that happens, experts are saying that we could see another run up in prices.

So my advice to you, is if you are thinking about buying a house, the time is NOW and through the next 6 months because if these rates do go down, we will see a flood of buyers enter the market and you could see bidding wars again on homes.

You can always refinance later if you don't love the rate, but the short term pain of high payments will HEAVILY outweigh the pain of having to waive appraisals, overbid and still lose houses.

We will see how this advice ages of course... but this is what I believe right now. This also dovetails with my advice of buying and holding Real Estate forever, you simply need to own it to start and you can refinance it when optimal.

Here is a link to the Forbes Article that talks about the Fed's upcoming meetings.

feds dropping rates will help sales in katy texas