I think I am going to miss typing "mortgage rates hit record low", or I may have to come up with something more catchy lest you think it is an old post.  But at this moment I can type that phrase againe, as they have dropped (not by much) to another all time low. Judging by the amount of interest in properties and some multiple bids. In Houston, Clear Lake area, it appears that folks have decided now is a time to buy - I mean really, how low can it go!  Why would you wait?

"Mortgage rates have continued to fall over the past week, again setting a record low for a 30-year contract, mortgage giant Freddie Mac said Thursday.

The 30-year benchmark dipped to 3.78, down from 3.79 a week ago. The 15-year fixed-rate mortgage remained unchanged from last week at 3.04 percent. "

http://economywatch.msnbc.msn.com/_news/2012/05/24/11860110-30-year-mortgage-rate-at-378-another-record-low?lite