Sell your house now, or else, maybe!

That is the message John Rutledge of Rutledge Capital gave to CNN this morning. He said that 10 year bonds indicate the mortgage rates are going up. Additionally, he noted the Fed will again raise rates on Tuesday. Already, mortgage applications continue their decline and combined with increasing rates, Mr. Rutledge believes, something will have to give and that give will be home prices. Within 3 -4 months, significant cooling should begin to occur. While Mr. Rutledge didn't predict a crash, he does predict lower home prices. Thus, Mr. Rutledge believes potential sellers should sell now, not a year from now. Likewise, if you are in the market to purchase a home, wait a year. Additionally, fix your rate if you are not selling.