Mortgage rates have been improving slowly but consistently over the past several weeks. Today’s rates (May 6th) mark the lowest we have seen since mid-January 2011. Many experts are warning, however, that these rates may not stay for long.

The Jobs report was released today showing 244,000 new jobs created last month, far above expectations. However, the Unemployment Rate increased to 9%, up from 8.8%. This shows that the jobs being created simply aren’t enough to have made a significant dent in the number of jobless Americans.

Today’s jobless report was mixed (increase in the number of new jobs coupled with an increase in the unemployment rate). However, the overall positive tone does validate that the labor market is gradually improving. And as the labor market improves so will the economy and housing…and with that interest rates will gradually rise as well.

We are constantly reminding everyone of what a great market this is and urging people to not miss this opportunity. At some point in our lives, I believe we will all look back and recall this as the best opportunity to buy real estate in our lifetimes. At that moment you will either be able to recall what a great move you made, or how badly you missed out! Which will you do?