With recession looming large, will rates begin to fall?

It is a good time to buy a house since you can get it for a lot cheaper then usualy with all these forclosures. It may be a bad time to sell but definatley a good time to buy.

you are right mercury, and i feel even you can check out of bank repossessed house which you can get very cheap price say 70% of market value and you can make a better deal too. If you go for mortage then its a big bugger of your income as well..

Yes, I think the same thing too. I have been dreaming of buying a house for so long but I haven't be able to buy one due to the high price. However at one point in our life, I felt it is necessary to own a house so I urged my husband to look around. We didn't expect to find accommodation at low prices, but to our surprise we found many houses on sale which the owner are willing to let go lower than the original price. I am now renting a condominium but I am looking one to buy. I've found a unit which was sold only RM80k when the original price is actually RM120k. Because of this I am really excited and really hope the owner wants to sell the unit to me. Recently I asked my husband to go to the bank to ask for home loan. And it was such a relief because the BLR was very low which is 2.0% which it never happened before. The lowest I've ever heard is 3.3% and now I am determined this is the ideal time for me to purchase a home.