, Columnist
Waiting for Home Prices to Drop? Bad Strategy
House prices may be declining in San Jose and Austin, but buyers looking in other markets won't see much of a discount.
No discounts.
Photographer: BloombergThis article is for subscribers only.
With mortgage rates retreating from their highest since 2002 and the US housing market cooling, some buyers are expecting to get a deal next year instead of having to contend with sky-high home prices. Unfortunately, that’s just wishful thinking.
Although most economists think rates have peaked — or close to it — the consensus is that rates will hover around 6.5% or 7% for 30-year fixed mortgages for the foreseeable future.