Projections about where credit rates will go in the next year vary widely; most analysts think the effect of the Federal Reserve's move away from the market won't be dramatic. Credit Suisse & FTN Financial Capital Markets predict that mortgage rates will stay between 5 percent and 5.5 percent for the rest of the year. Other's projects about 5.7 percent to 6 percent.

No matter what is going on, I can tell you this. It's a GREAT time to purchase a home. In some markets the home price is still coming down. Not good for the home owner, but GREAT for a first time home buyer. So STOP RENTING! Get out there, and look for that home you have been dreaming about.

Jesse Stroup

www.idahofhaloans.com