Mortgage rates making this the best time to buy

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Rates on a 30-year, fixed-rate mortgage have begun a steady rise again. When interest rates rise, they add to the size of a home buyers monthly mortgage payment. For example a 0.26 percent increase in mortgage rate causes a jump of $15 a month on a $100,000 loan.When you are shopping for a home you must look carefully at monthly payments to gauge a home's affordability. Higher monthly costs can limit the amount that you can pay for a home.With interest rate patterns inching upward the current buyers market may be the best opportunity to buy for a long time.  . Home prices and monthly payments  may never be lower again in our lifetime than they are at this very moment...NOW IS THE TIME. Smart shoppers shop for the money first.  Before you even start to look at homes find out just how much you can afford to spend.   If you know that you have the loan ready to fly you can enjoy the advantage of shopping like a cash buyer and negotiating the best price for you next home.   To take this advantage pre-qualify for your mortgage.  Get exact amounts, including down payment and monthly payment quotes and lock in today's rates, before they have a chance to jump up again Thousands of private sellers across the country are competing  to sell existing homes . Many expected to make easy sales due to the recent housing boom, but are now finding that the market has changed and they are lowering prices to meet market conditions. Check out their listings  you might be very surprised at the bargain priced homes waiting for a new owner in your local area. If your NOT thinking about buying this is also a very good time to refinance your home loan BEFORE RATES GO UP AGAIN.  If You Have a High Interest Rate or a Variable Rate Mortgage stop the bleeding now, because it looks like its only going to get worse.  As rates continue to rise so do your monthly payments. If you would like to refinance at today's fixed rate and save thousands over the term of your mortgage apply as soon as you can