With worries about Fannie Mae and Freddie Mac looming over the banking industry, the best bet for homebuyers now is probably to lock in a mortgage rate while the scenario plays itself out.
Industry analysts say evaluating which way mortgage rates will trend over the long term will be tricky because of all the unknowns regarding Fannie and Freddie, the two mortgage giants whose capital standing was called into question last week, setting off a market frenzy.
That's why it makes sense now to play it safe and grab current rates while you still can. A 30-year fixed was going for 6.09 percent Monday, according to Bankrate.com.
And that leads to our Fast Money Reader Poll. If you're in the market, is now a smart time to buy a house?
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