The last 3 months have seen a shift interest rates from impossibly low rates of 4.0% for a 30 year fixed mortgage to today’s rates that have been boucing between 4.75% and 5.0% since mid-December.

Looking forward, unfortunately we don’t think we’re going to see rates dip below 4.5% anytime in the foreseeable future.  We believe that rates will stay around their current levels or increase slightly between now and the end of the year.

Keep in mind that compared to the 6% to 7% rates of the early-mid 2000’s – today’s rates will buy you 20-30% more home for the same payment that you would’ve had back then.