Interest rates were lower a couple of years ago, but they are still very low making it a good time to buy. The reason mortgage rates are low is partly because of the prime rate being low to increase business investment to grow the economy, and as a result the mortgage rates are low to grow the housing market that was in decline during the housing crash and only recently has bounced back in most places.

Part of the reason is the Fed Reserve has been buying Mortgage bonds- a huge amount of them each month. That has kept the mortgage rate very low. Now they are saying they will quit doing that so mortgage rates may go up quickly after that.

Home buyers have more purchasing power than during any period since last May; plus, there are now millions of existing U.S. homeowners who have an opportunity to refinance to a lower mortgage rate.

Money is cheap now, interest on bank accounts is almost zero. Mortgage rates have been low for years they vary a little on demand. Investor get very little on CDs and savings so can afford to lend cheap since mortgages aren't really high risk.

IF u got money and knowledge about house buying,

then now is good time to buy.

Rates are low cause of the 2008 meltdown.

brought on because of seriously faulty policys about house

buying.

NOT every one should own a house.