All the financial folks have been talking about it, and it is finally really happening: interest rates are starting to creep up!
It is not too late! The tax credits for first-time and repeat buyers are in effect, and can add up to $8000 or $6500 in your pocket for buying a home. The catch there is that you must have a contract in place by April 30th and close by June 1.
Interest rates are STILL SO LOW! Even creeping above the 5% mark, rates like these are phenomenal. Do not expect interest rates to fall below 5% again any time soon--make your move and get financing. The lower interest rate will allow you to buy more home.
Here's a great article that details how the buying power of your dollar shrinks with the rise in interest rates.
Be responsible in your decision to buy a home, but if you are sitting on the fence, do not wait too long.