Rates Still Forecasted to Rise
Though presently, as evidenced by the chart below, interest rates struggle to break through the 4.5% level. Though rates have risen above 4.5% for very short times, rates consistently retreat.
Yet by one very reliable source, Freddie Mac, rates are seen to rise over 1 full percent by the end of 2015.
As seen in the second display, such an increase in interest rate can bedevil a home buyers' effort to attain a home! Over $300 higher house payment due in increasing prices and increasing rates. Higher interest means one's budgeted payment buys less home.
So acting sooner than later is the best plan!!!