Buy Now or Wait?

With interest rates raching lows not seen in 20 years, many are hoping they will continue to the 4.5% rumored to be "around the corner" by many in the industry.

However, the rumor is first just that until the money and the direction is provided. Second, the lowest rates will only be given to the best borrowers. That means if your credit score is less than 760, don't hold your breath for the lowest rates. However, if your credit is between 620 and 760, your chance of getting very good rates and terms remains fantastic.

If your credit is below 620, you need to sit down and see just where you are and set up a plan to get it up around 600 as a minimum, or face paying higher rates, requiring larger down payments, or not getting a loan at all.

So, what are you waiting for? Let's start looking for the right house that meets your needs and negotiate a great price and terms now!