Not long ago, homebuyers reigned in the housing market. Home prices dropped dramatically after the 2008 financial crisis, and mortgage rates fell to an all-time low. People who were ready and able to purchase a new home reaped the rewards of under-valued home prices and historically low mortgage rates. In 2012, home prices were below the fair value of the properties, lower than they had been since 1998. Since March 2012, those prices have been creeping up. Bank of America Merrill Lynch Global Research predicts that prices will continue to climb slowly for the next few years. While the real estate market has rebounded, we’re still seeing people who are waiting and watching. But why wait? Mortgage rates are still extraordinarily low. A 30-year fixed rate is currently as low as 3.75%, not far from the record low of 3.31% in late November 2012. Like the housing price, these interest rates have come back, but not by much. In fact, Freddie Mac reported that current rates have risen half a point since February 2015. That’s good news for homebuyers. You can still get a great value on a new home while leveraging the low interest rates. However, you need to act. Mortgage rates are expected to continue to rise over the next two years. Forecasts are predicting a 30-year, fixed-rate mortgage to go as high as 4.61%, almost a point higher than the current mortgage interest rate. You might also qualify for a loan with a low or zero downpayment. Fannie Mae and Freddie Mac, the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA) and the U.S. Department of Agriculture (USDA) offer mortgage products that offer great rates with little or nothing down. Remember, predictions are just that. We can only guess what is going to happen to the housing market in the near future. But with the current home values and low mortgage interest rates, now is the time to make the move.