Sure, you could have locked in a rate closer to 3% versus 4% but if you pull back and take a 5-10 year look at where the rates have been and where they are today, they are still unbelievably low.
Rather than thinking you “missed the boat” perhaps you might consider “jumping on the boat” and buy a home with more confidence as you invest in a stable market showing signs of growth.
We have been reporting for months that the number of contracts have been increasing, inventory has been remaining healthy (or lower than normal), and values have stabilized or increased, rates increasing is in my opinion one of the final pieces to the recovery puzzle.
By raising rates the Feds are indicating they actually believe what they are seeing in market recovery therefore, releasing some of the pressure to keep the rates artificially low.
(source: Freddie Mac)