Buy a home or investment property before rates go higher! US mortgage rates are not high — not yet. As of this posting, conventional conforming 30 yr rates are in the 4% range which continues to be historically low. Real estate is expected and predicted to continue to appreciate at rapid levels due to overwhelming demand, much of which is pent up demand, and due to the inability to quickly adjust manufacturing levels to meet the needs of the population. Real estate traditionally appreciates between 3–5% per year but last year was over 12% and much much higher in some markets. That means appreciation is far out-running the interest rate to pay for the purchase. It is likely to continue for some time because we can't build homes fast enough for everyone. If rates were 6% I would still give you the same answer. Buy! Mortgage rates are loosely correlated to inflation which in very simple terms, reflects market appreciation (prices rise when too many dollars are available for too few goods.) So take advantage of high interest rates now (8%-12%) by purchasing a house before they go up. Lock in now before you miss out on all of the appreciation along they way to higher rates.