According to Bankrate.com, mortgage rates over the next month to month and a half are not expected to change more than 2 basis points up or down. This change equates to a range of 4/100 of a percent, or .04%.

To put this in a different perspective, 25 basis points is 1/4%. On a fixed rate mortgage of $200,000 mortgage at 6% for 30 years vs. 6.25%, the difference is about $30 per month. That won’t pay the TV bill.

Consider how long it takes for rates to move 1/4% to 1/2% – generally months.

More to the story exists in my upcoming book why this change really does not matter…for several reasons. In the mean time, don’t buy the hype in the news about rates and make a rush decision to purchase a house. It’s really not that important, yet.

Take your time and do your homework.

Prices on both houses and mortgages are low and it takes longer for values to go up than down. As the expression regarding investing goes, “you walk up the stairs and jump out the window”.