I recall in the spring of 2008, we were able to refianance our current residence at $4.875 on a 30 year fixed.  We got totally lucky.  We were able to lock during a day of high market volatility.  Since then, nobody would believe me on the rate I got.  They'd ask "for a 15 year mortgage"? I'd smile and reply, "actually a 30 year".  Rates then started to go up to above 6%.  Several of my buyer clients proceeded to purchase last year in the high 5 to low 6% rates.  I almost felt guilty because my interest rate was so low...

Guess what? Rates are even lower today! I've had a lender friend of mine tell me she's refinancing her current residence for 4.5% for 30 years! Another lender friend of mine is doing so many deals they don't know what to do... Another agent in my office is locking in at 4.375% I can't believe it! I've never seen rates so low! If you're on the sidelines & capable of qualifying for a new loan or refi, now is the time!