I've got the cash reserves for about a 15% down payment right now. I am concerned interest rates will go up soon but prices will not go down, so I'm hoping to get in while I know I can afford the payment to avoid getting priced out of the market.

I've been looking at the Utah Housing No MI option (the no-renting stipulation is a huge drawback) or paying points + MI on a conventional 30-year. Both look way less than ideal.

1) Is there a good program for 15% down in Utah? Or is it a no-brainer to wait until I've got 20% down?

2) It seems like there is low inventory for move-in-ready houses in the $200k-$245k range in most suburban areas throughout the SL valley except for Sandy. Sandy seems to have plenty with new ones being listed daily. Does anyone know why that would be? Seems like Sandy is an ok place to live.

3) Am I likely to get a better price on a house after school starts?

Thanks.