Ginger Susner, Realtor

The Era of Low Mortgage Rates Is Over Mortgage rates this week jumped to their highest level since 2011, signaling a shift from a period of ultra-cheap loans to a higher-rate environment that could slow home price appreciation and squeeze first-time buyers.

This is why it's still not a bad idea to purchase your home now, even though prices are high! Interest rates make a huge difference on your monthly payment and ability to qualify for a mortgage. (Not to mention rent is also crazy)

Rates are about 4;5% right now and climbing. Economists expect it to reach about 6-7% within a few years time.

Just one thing - if you buy now, don't plan on selling anytime soon! The market will always fluctuate. Be in it for the long haul. And if you do buy, then need to move - you've got a great rental in a burgeoning area north of San Francisco!

Bottom line - pay your own mortgage, not your Landlord's! Or, keep renting, and in 30 years have no home equity, and pay whatever the going rent is then! Yikes! That's my opinion...