Have you ever heard the story of the guy who always held out until tomorrow because he was certain mortgage rates were going to go lower? He waited his entire life and ended up dying with plenty of money, but living in an apartment. Sort of defeats the purpose of saving money to buy a home, doesn't it? A lot of us are like this fellow, we are constantly waiting around for the best deal to come along. We are certain we can wait out the market - little do we realize the market can long outlive us!

Mortgage rates, compared to ten years ago, are still at one of the lowest rates ever despite weakening economic conditions around the world. 30-year fixed mortgage rates typically are settling between 5.5 and 6.05 percent. Compare that to just four years ago when some rates were as high as 6.8 percent. Of course, as with any financial tool, the mortgage rate is always going to be in flux. The good news for many homeowners is that when the number does drop substantially, usually by 3/4ths of a point or more, the opportunity is there for them to refinance into the lower rate. It's almost like being able to have your cake and eating it too!

There is no better investment you can ever make than buying a home for your family. Homes are an investment that, over time, will gain in value. Real estate is one of the safest investments you can make. Even though there is a lot of news nowadays about the real estate fallout with sub-prime mortgages and such, most consumers who manage their credit and finances correctly can avoid having to deal with any of that. Knowing how much house you can afford, and what payments you can comfortably meet will ensure that you don't become another statistics in the mortgage industry reports.

One thing to remember is that the future value of a dollar is always less. If I gave you the choice of giving you $100 today or $100 next year, the $100 I give you today is going to be worth more and will have more buying power. The same goes with a house - waiting to buy a house because you think the market is too volatile right now could be a big mistake. If your finances are in order and you are on solid ground with your credit, this make the perfect time to take advantage of the low mortgage rates and get a great deal in the real estate market.

By knowing what is going on in the mortgage industry you can help yourself get a great deal on the property of your dreams.

Taking advantage of the rates available today can help you secure your family's financial future for years to come. Sometimes despite all the negative news you might hear about the real estate market the fact of the matter remains that people who have kept up with their finances are going to benefit greatly from the housing market as it stands today. So why shouldn't you as well?