In case you're wondering if it's a good idea to buy a house right now, the answer is yes! The mortgage rates are low and will not stay low forever! If you have an adjustable rate mortgage, it's time to lock in a fixed loan now if you have the credit score to buy a house. A financial expert says it is not worth the risk of having higher interest rates if you are going to stay in the same home for awhile. He also says that if rates go up to 5.75% sooner than 5 years and you live in the house for 10 years, you are better off if you lock in a fixed rate mortgage now. You have to consider your housing cost alternatives, buying vs renting (rents are projected to increase by 5% next year), availability of credit now vs some time in the future and long-term lifestyle plans. Your decision, however, should not be based on the possibility of getting a fast return on the appreciation of the home.

Blog inspired by article written by Neal Frankle featured on wealthpilgrim.com and can be seen here:  http://wealthpilgrim.com/right-time-to-buy-a-house/