As I write this mortgage rates sit at 4.5 percent for a 30-year fixed rate.  This marks one of the longest sustained periods of dirt cheap mortgage rates.  What does it really mean, however, for your everyday consumer?  Mostly, it tends to mean that this remains a good opportunity to purchase a home.  I make one big caveat, however.  You must be planning on staying in your home indefinitely.  Housing prices remain volatile and if you have a more fluid lifestyle, say as young professional without kids, you have to be very careful.  That said, it’s not only low interest rates that make buying a good opportunity, but also the prospect for massive inflation.  Take a look at the graph posted below and combine it with what you know about the US budget deficit.  The US dollar is very likely to see significant inflation, if not hyperinflation in the future.  This is amazing for debtors (mortgage holders) because it means you’re paying back you loan with cheaper dollars.  The best mortgage offers right now seem to be coming from Box Home Loans and Americash Mortgage Bankers.

Currently, mortgage rates are slightly up this week, but are still standing around 4.5% for a 30-year fixed rate mortgage.  Obviously, not every bank is offering this type of rate and it is highly dependent on your credit history.  If you’re looking for the best rate around currently, however, you should be looking for 4.5-4.6%.

Since we’re still seeing historical lows with mortgage rates in the US.  Many people see this as a prime time to purchase a home, particularly if you are intending to stay in the property indefinitely.  It’s not just low mortgage rates, but also the prospect of significant inflation.  Of course, inflation decreases in real terms the amount you owe on your mortgage.