Waiting to buy a home in case prices fall? Look at these numbers.

At this time there is no data to suggest that home prices are truly declining, but what IF home prices in Maricopa County dropped 6% this fall and interest rates increased only .5% on a 30-year Fixed Loan? Your payments would look like this, not much change. 

SPRING : $350K Loan Amount - 4.5% Rate - $1,773.40 monthly payment
FALL: $330K Loan Amount - 5% Rate- $1,771.51 monthly payment