If you had asked me a year ago whether we'd see interest rates get as low as 3% - or lower than 3% - I would have said "no, definitely not, they couldn't get that low!"

But, it seems I would have been wrong.

The average mortgage interest rate (for a 30 year fixed rate mortgage) has continued to decline over the past four months from around 3.5% all the way down to the current rate of 2.88%.

It seems likely that interest rates will continue to stay rather low in the coming weeks and months -- though I don't know if they will / can really stay below 3%.

If you happen to be buying a home right now, PLEASE lock in your interest rate this week!!  :-)