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[quote=Anonymous]OP I feel your pain. It kills me to wait another year while we save a down payment. As interest rates go from the 4ish range to the predicted 6 at the end of the year that is the equivalent of an additional 240k in internet on a 30 yr mortage. For many of us we feel likes it's buy now are we will never get I to this market.

Most real estate industry observers say mortgage rates will rise significantly in 2014, to roughly 5% for 30-year fixed-rate mortgages. But others say rates will go higher, with analysts at the real estate website KeepCurrentMatters.com seeing rates climbing to 6% by year-end. If that happens and fence-sitting buyers remain out of the market, they could regret it. Here's one way to look at a $200,000 mortgage stretched over 30 years: At 4.2%, the monthly payment is $978 and total interest is $152,094. At 6%, the monthly payment is $1,199.10 and total interest is $231,677.
That's about $80,000 in extra interest loan payments over the course of the loan, and it's 80,000 reasons why buying a house now, rather than waiting a year, may be a great idea.[/quote]

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