YogaBug recently attended the 2015 Economic Forecast with National Economist Dr. John Mitchell in downtown Portland.  According to Dr. Mitchell, a combination of conditions is creating the perfect climate for the Fed to raise interest rates about a half a point as early as mid-December. For prospective home buyers who are on the fence regarding renting vs. buying, this rate increase could mean the difference between affording a $350,000 home at current rates vs. a $335,000 home if interest rates increase half a point.  It could mean one less bathroom in your new home or being priced out of that neighborhood you desire.
The best time to buy is always when you are ready, but keeping track of market conditions can make a difference.CONDITIONS CREATING THE PERFECT STORM TO RAISE INTEREST RATES

Headline Inflation at Zero
Midway through the 7th Year of Economic Recovery
 Fed Funds Target 0-.25
Record Employment Levels
30 Year Decline of Long Term Interest Rates
Precipice of Monetary Policy Change
Fiscal Truce
The World is Awash in Oil-Weak Commodity Prices