The Wall Street Journal recently put out an interesting article entitled Nabbing a Mortgage Before Rates Rise. The article is about the history of interest rates and what is expected to happen in the future. According to this source, rates are at a historical low but expected to rise by the end of the year (maybe to 6%). The article also states that since tax credits are expected to expire at the end of April 2010 which may add to the sense of urgency for home buyers.
The graph pictured below shows a history of mortgage rates for 30-year fixed mortgages including a forecast for 2010.
To read the entire article at the Wall Street Journal online click here.