Rates are likely to climb. The time to buy is now!

Federal Reserve Bank of New York President William Dudley says the central bank will scale back its purchases of mortgage-backed securities late next month; and while interest rates likely will climb when the program ceases, the extent of the rise remains to be seen. Dudley says the Fed will act if rates spike too much. Still, analysts worry that the end of the MBS purchase program and expiration of the home-buyer tax credit, along with higher premiums and tighter underwriting of FHA mortgages, will work together to stifle home sales and price stabilization in the coming months.

So what are you waiting for? Time to Buy a New CBH Home!!! The rates remain outstanding, and the pricing is the best in years. It is a Buyers' market, but as this excerpt points out, things are going to get tougher as far as buying a home is concerned...