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Home prices are continuing to decline and rates remain low. Now is the time to buy, sell, or refinance. Experts predict that rates may increase over the next year while home price decline. For example on a $300,000 purchase price will to $285,000 with a 5% decline. Howver, if rates go up 1% and house price drop 5% over the next year you will still save about $100 if you act now as opposed to waiting.

Home-Price Drop Accelerates, Damping Hopes
Wall Street Journal (04/30/08) P. A3; Reddy, Sudeep
The 20 cities included in the Standard & Poor's/Case-Shiller index all recorded home price declines in February from the prior month, falling 2.6 percent. Year-over-year, prices were down 12.7 percent overall and more than 20 percent in such markets as Miami, Phoenix and Las Vegas. Since the index peaked in July 2006, the index has tumbled 14.8 percent; and experts do not believe prices will bottom out until they fall another 10 percent or so, taking into account the weak economy, stricter mortgage lending standards and a large supply of unsold homes. Meanwhile, an April survey of consumers by The Conference Board reveals a decline in respondents who expect to purchase homes during the next six months to 2.4 percent from 3.4 percent in March