[Hammer1122]

I have just recently been pre approved of a 120000 loan to purchase property in Texas. The interest rate is 5.25%. Should I wait until March09 for a possible better rate gambling that the housing market will still decrease or should I grab the bull by the horns and go for it now?

[stevetcg]

Trying to anticipate the market is tough even for experts. And if you start shopping for a home now you aren't likely to close before March anyway, if your market is anything like it is here in Florida.

5.25 is a good rate. And if rates drop lower you can always refinance.

Bottom line: my recommendation would be to find a place. If you like it, get it.

[sandkicker]

My standard answer to this is... "If the monthly mortgage payment including taxes and insurance represents a good value to you for the property involved... go for it."

There are two points in a market that cannot be predicted... the top and the bottom. By definition, they are only observed by "looking in the rear view mirror"