Mortgage rates have come down nicely

December 9, 4:48 PMReal Estate Marketing ExaminerSpencer Rascoff

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Buried in all the depressing news about the economy, and who's getting what in the bailout, and the weird news about Illinois Gov. Rod Blagojevich, is some uplifting news for real estate buyers that is flying just under the radar: mortgage rates are low.

Take a look at the Zillow Mortgage Marketplace chart to the right. In mid-November, the rates for 30-year fixed mortgages were in the 6's and this month, there seems to be an early gift from Santa -- low mortgage rates!

Yes, I know there is speculation the government is going to lower rates to 4.5%, but there is a lot of hesitation surrounding that move, too. According to this CNN article, even though rates are low, people aren't getting loans due to tougher lending standards and the government's piecemeal approach to fixing the problem.

My advice? If you're in the market to buy a house, I would seriously consider jumping on these rates. Talk to a lender you trust and see if you qualify. Or, if you need more hand-holding, get some free mortgage advice.