One of my favorite lenders just emailed that she can lock in a "vanilla" 30 year conforming loan at 5.375% today!! That is fixed for 30 years!!! That, combined with our lowest prices in 4 years makes this an incredible market!! First time buyers who found themselves priced out are now priced in and the investors are on the move!! With all the foreclosures we have had in our area we have seen a truly dramatic drop in home prices and there are just incredible opportunities out there right now. Add to that the excellent, "safe" first time home buyer programs that are available and this is a PERFECT time to buy a home!!!