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Buying a home in Houston, Texas is about to become more expensive.

If you anticipate buying a home in Houston, TX, your home purchase is about to become more expensive. The $8000 tax credit is about to expire and more importantly, interest rates are on their way up. If the June reports continue, as China stops lending the USA cash for its deficit spending, the cost to the US Treasury goes up and mortgage rates will go up as well. This means you will be getting less house for the same payment as rates rise.

Here is this week’s report from America’s number one mortgage broker.