What direction are interest rates headed?

The future direction of interest rates is unclear. Currently, mortgage rates are low nearing 6% on a 30 year fixed. As credit has tightened homes for sale has increased. If you have equity and good credit you should not be concerned. Fewer buyers qualify now which has created a bit of a logjam for sellers who are looking to purchase. If you are currently renting or own and can temporarily afford two mortgage payments you may be able to find undervalued properties and anxious sellers. Take advantage of the market.