It is a great time to purchase.

Today you can get a conventional mortgage for 10% down.

oYou get a 30- or 15-year fixed mortgage oYou qualify for a 4 percent to 4.99 percent interest rate oYour mortgage payment, property tax, insurance and PMI (private mortgage insurance), is equal to or less than your current rent or your job is secure.

The rules shouldn't be too hard to follow. Over the last three months, interest rates for a 30-year and a 15 year fixed mortgage have been slowly climbing. Home prices are expected to stabilize in the coming year across the board. This is a good time to re-enter the real estate market!