Why you should buy a house before 2014

Orson Klender, Licensed Associate Real Estate Broker

If you wait until 2014 to buy a home, you could miss out on a lot of savings.

Many key economic factors suggest homebuyers should act before next year.

If you’ve been waiting for the best time to buy a home, your wait might be over. In fact, taking a number of factors into consideration, buying a home before 2014 could save you a lot of money.

“There are several reasons why now is the time to buy,” says Jim Duffy, a mortgage banker withCole Taylor Mortgage.

Those reasons include everything from rising mortgage interest rates and home prices, to falling affordability indexes and the fear of inflation, he and other sources say.

So we decided to dig a little deeper into what the future holds. Read on to see what we found.

Reason #1: Interest Rates Will Rise

One problem with historically-low mortgage interest rates is that they have nowhere to go but up. And a few months ago, that’s exactly what started to happen after a June announcement by Ben Bernanke, the chairman…

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