In some quarters, there is speculation that events in the Middle East may have some impact on the average mortgage rates over the next few weeks. In some cases, the projections are that events will lead to some increases while others are anticipating that rates will remain more or less stable or possibly slip back below the five percent mark for thirty-year mortgages. The differences of opinion leave some prospective homeowners unsure of whether to apply now or delay for a little while until a more unified picture emerges.

Why Now Is A Good Idea

When looking closer at the various ideas of what will happen with mortgage rates in the weeks to come, it becomes apparent that no one is expecting a huge change one way or the other. This means there is really no reason to think that the sudden shift that occurred last year will come to pass, either in terms of a similar drop or a significant increase. For this reason, there is no point in delaying attempts to apply for and receive a mortgage. The rates you get now are not likely to be that different from the rates available in three or four weeks.

If you already have a property in mind, know what is on your credit reports, and have a reasonable debt to income ratio, there is no reason to delay any longer. Start talking with different lenders in your area and see who is willing to provide the best rates and terms. With a little luck, you can qualify in a short amount of time and spend springtime getting your new home set up exactly the way you like it.