Devoted to interest rates, loans, and lending institutions

One of the big surprises in terms of recent economic data was the existing home sales data for February. Home sales are on the rise, and that has some hoping that the real estate market will make a turnaround. But the case of this increase in homes sales is lower home prices, as Reuters reports:

"The real number of importance is the price," he said. "Prices are declining and that's wiping out the equity of many people. People are literally under water on their houses and are walking away."

Lower home prices are the main reason that homes are being sold again. And some analysts aren't so sure that the recent data means that a true turnaround is on the way for the real estate market. Some think the bottom is still coming.

Even if that is the case, and home prices go lower, if you are looking at buying a home, it may not be a bad time to do it. Interest rates have dropped (finally) and lower home prices abound. Just make sure that your credit is in order that you have a down payment. Many mortgage lenders are still wary of giving out home loans. 

You can't take advantage of lower home prices if you can't qualify for mortgage financing.