Money manager Dan Kadlek has an article in last week's TIME Magazine regarding the delicate tightrope walk of trying to find the bottom of home prices AND the bottom of interest rates. Prices may be falling, but what if interest rates begin a steady rise? Well, it becomes a wash.
Says Kadlek "the thing that will make home prices stop falling is the very same thing that will push mortgage rates higher," says Jim Svinth, chief economist at mortgage firm Lending Tree. So anything you gain by a further drop in prices might be offset by rising financing costs."
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