This is a great question that is on a lot of people's minds, especially since most everyone hopes to time the market just perfectly. The simple answer to this question is: No one knows for sure.

Lets take a look at some of the things that are creating our 60+ year low interest rates...

In November 2008, the Federal Reserve announced that it would be purchasing $500 billion in Mortgage Backed Securities (MBS) to "reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support housing markets..." You can read the press release on the Federal Reserve's website here.

This flooding of capital to the markets has brought interest rates into the 4% range on a 30 year conventional mortgage, however these rates are artificially low. The Federal Reserve has already purchased over $52.6 billion worth of MBS, with the remainder of their funds to likely run out by June. 

Once the Fed stops buying mortgages, there will be much less capital in the market which in turn would cause rates to rise. Add to this growing inflation fears, the likelihood of oil prices rising for the summer driving season, and corporate cost-cutting measures taking effect, we could see this low rate honeymoon coming to an end by this summer.

So what does this all mean? Well, with interest rates low, loans available, and prices more affordable than anytime in the last 5-6 years, now is the time to seriously consider buying a home in King County.

To find out how to take advantage of these low rates, and receive a list of the 10 Best Buys in Bellevue, Seattle, Sammamish, Issaquah, Renton or any other areas of your choosing in the Puget Sound region, go to www.speedyhomefinder.com today.