Trying to buy a home right now? Hang in there, because the long-term benefits definitely outweigh the short-term challenges. It is true that the mortgage rates have been coming down the last few weeks and there's a little more infantry week to week. Of course there are also a lot more buyers looking; I know that from my own listings. But you know you're making the right decision to buy whether or not you have to sell to buy or you're just looking to get out of a rental situation. You're going to build equity ,financial security, and a better quality of life.

Now if you know that you need to sell in order to buy you have a very low interest rate now that might make you wait. How long can you wait, though? Whatever the reason for your move, you should think hard about how long to wait before you make that decision. You can also use the mortgage rate lock-in process where for six months you're locking in a rate for a fee which is refundable usually at closing, and then 60 days will you close you can float down that rate if the rate of the time is lower. Take the lower rate or you can keep the rate you're at, if the rate is higher and that gives you some sense of peace of mind about the situation that you might find yourself in because life is too short just to wait wait wait hoping that your interest rate is going to come down!

There's an opportunity here to get a deal done and to refinance in the future build that Equity that you know is more valuable to you than just sitting and waiting.