How interest rates affect your mortgage payments: A video explanation

If you're thinking about how best to time the market to get the best price on a home, here's a thought: DON'T.

The overwhelming consensus is that our interest rates of 5% or so won't - and can't - last forever. They WILL go up. Once the economy rebounds and people starting getting their jobs back, growth will increase putting pressures on inflation, which increases interest rates. 

Here's a simple 3-minute cartoon video explanation as to how increased interest rates will affect your buying power.