Mortgage Interest rates have again tested 20 year lows. So the for those trying to time market make sure you are already approved by your bank or lending institution and have your finger on the trigger. While for years and years most economists or analysts have predicted that at some point rates will have to go up. While that probably is correct  is up going from 4.25%-4.75% or does that mean to 5.25%? Your guess is as good as mine. I believe most mortgage holders would benefit from today low rates. The important thing to do is work on getting yourself qualified as soon as possible so you are prepared. With rates this low the process starts to sloooooowwwww down. As a borrower you have to have the 3C's in order(Good Credit, Capacity to repay documented with tax returns, Collateral or enough equity in your property) You can also start the process then watch the rates with your trusted lender. In today's lending environment the "haggle" over interest rates isn't an impressive conversation with your lender. Lenders no longer earn their income based on the interest rate you decide you want to "lock in" at. The rate will determine whether you are paying closing costs or the bank is covering the costs for you. (see my earlier article on closing costs)