Homebuyers scramble as mortgage rates jump - Builder Magazine

Homebuyers are suddenly realized that rates have jumped 1/4% and are on their way up. So the best strategy for homebuyers is lock in a rate and a purchase while home prices are still near their 7-year lows. Rates are still excellent (around 5.25%), but there's no reason to ride them back up and wish you'd taken advantage of the waning buyer's market, especially in the South Bay where prices stabilized at the beginning of 2010. - David