If you have a mortgage then the time to look into refinancing to a lower rate, a shorter term or both is now! If you look at the current rates compared to what they were 1 year ago, we are now a full percentage point lower. (FREDDIE MAC historical rates) A 1% difference in rate equates to over a $100 a month difference in lower payment on a $200,000 loan balance. That's extra money you can use to offset those higher fuel cost, higher energy cost, and higher food cost.
If we were to look at how much more buying power that gives to a buyer, we are looking at approximately $25,000! Think about it...this year you could afford a home that was $200,000 last year, you could afford one that is $25,0000 more this year for about the same monthly payment. Combine this with the fact that home prices have continued to decline in the Atlanta metro market and you are looking at some real buying power.