Interest rates are about as low as they will go . . .  rates as low as 4.5% for government financing on a 30 year mortgage, and on a conventional loan the rates begin at 4.75%.  Interest rates change daily and sometimes more than once/day.  Check with your lender to see which way the market is heading and then determine if you want to lock in your rate or float the rate. Remember that the movement of interest rates by as little as ¼% can result in a monthly payment fluctuation of $100 or more depending on your loan amount.  So waiting for lower interest rates is probably not going to happen.  Buying a home now while the rates are at historic lows, property prices beginning to rise, and inventory at an all time high . . . NOW is your best bet to capitalize on a golden opportunity.  Remember, there’s never a bad time to buy, but there’s better.  That time is NOW, particularly when you factor in the recently extended and expanded tax credit . . . sending CASH back to home buyers.  By the way, it’s taking about 6 weeks for Uncle Sam to process your tax credit and issue a check to you.

interest rates, market trends