I'm sure you've seen advertisements that read "historically low interest rates". They always make me cringe--oh my, more exagerated advertising. But it's true, The chart below shows rates from 1970 to the present. At the time of this writing, the rate for a 30 yr conventional mortgage was 4.825%. That's low. I can recall my first mortgage in the early 80's--16%. Was that a shock. But I did it. With interest rates this low, buying a home becomes more affordable. And given the fact that homes sales are still sluggish, although they are improving, i suspect that mortgage interest rates will continue to remain low--just not sure how long.