> Homebuyers will make purchasing decision based on their monthly mortgage payments, instead of the home price. That isn't entirely true. For most people, the

> Homebuyers will make purchasing decision based on their monthly mortgage payments, instead of the home price. That isn't entirely true. For most people, the amount you need for a down payment is a pretty important consideration as well, especially for a first home where you don't have any equity in an existing home that can be used to purchase your new home. I've known people who saved up for years to buy a home, then interest rates dropped and prices went up. The mortgage might be roughly the same with the same percentage of down payment, but they don't have enough cash to make the necessary down payment.