For all the talk about mortgage interest rates, and the associated monthly payments... plenty of buyers are shrugging their shoulders and pointing out that... they still need a house.

This is a fair point.

For as much as we might point out that mortgage interest rates and home prices are combining to create monthly mortgage payments that are difficult for home buyers to stomach... there are still plenty of buyers that still need a house.

If a buyer is moving to the area, or is renting a home and that lease is ending, or is running out of space in their current home... they are likely going to go ahead and buy a home, despite the higher mortgage payments.

All potential buyers can't just decide not to buy... or to keep waiting to see if interest rates will decline... or if home prices will decline.

So, if you're in that situation... where you still need a house... I recommend that you make sure to buy a home that has a monthly payment that you can keep up with on a monthly basis, even if other expenses come up.... and that you don't count on definitely being able to refinance your mortgage to lower your mortgage interest rate within a few years.

It is possible that mortgage interest rates will meaningfully decline at some point over the next two to five years, but I don't think you can or should count on that.

So... if you need to buy a house... and waiting or renting is not an option... let's find the best possible option for you based on your monthly budget.  

After all, waiting for rates or prices to come down might not be fruitful... a year from now we might have the same (or higher) mortgage interest rates... and the same (or higher) home prices.