The Mortgage Interest Rates Affect How Much House You Can Afford. Here are 2 Scenarios:
• Purchase while Interest Rates are still low, save your pocket on mortgage interests, afford bigger house and get tax deduction .
OR
• Keep waiting for prices to fall ( myth) and finally purchase when interest rates rise, having to pay more on the mortgage interests accumulated in the long run with the downside of affording smaller square footage.
Due to the high demand and low inventory in California, home prices have been predicted to remain stable and hold their value. Many qualified buyers are not able to find homes to purchase due to this shortage of supply.

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Take a look at the Chart Below