Here is a very brief, although possibly important, thought.  Today's mortgage rates are between 4.75 and 5.00%.  These are historically low rates, not seen since the 1950s and provide opportunity for great value in real estate purchases.  Think about this, if the rates go up to only 7%, which is where they were all the way back in 2008, that translates into a 30% increase in the mortgage payment.  That means you can get a lot less value for the same amount of money when buying a house at the higher interest rate.

Rates are not going to continue to stay this low.  It is a great time NOW to refinance, or to buy a home, and get much more bang for the buck instead of waiting for the prices to drop just a little more and risk a 30% increase in payments, as well as getting 30% less value on your real estate purchase.

See your local mortgage banker today for the latest mortgage rates.  Or click here and see what impact interest rates have on your monthly payments, and value.