Is there merit in waiting for the housing market to cool before jumping in to buy a home? While that question may be on the minds of many consumers, the possibility of a significant drop in home prices coupled with a terrific downward trend in mortgage interest rates is rather remote. Potential buyers and investors have given considerable thought to both housing prices and interest rates recently for two reasons: First, they have been intrigued by comments from national economists about the statistics supplied by the U.S. Census Bureau and Department of Housing and Urban Development that showed a 10.2 percent drop in the rate of new single-family home sales between July 2006 and July 2007. Second, mortgage money for many homes will be more difficult (and possibly more expensive) ...
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