The Federal Reserve implemented a mortgage-backed securities buying program to artificially lower rates and that program is nearing its end. The originally scheduled end date was December 31, 2009. While this deadline has been extended, the amount of purchases remains the same, which means the level of participation will wane, decreasing by half as much. It is expected that mortgage rates will soon return to levels seen before the program started, near 6.50%.

Inflation, while currently contained, is likely to show its ugly head as all the stimulus from Washington continues to pour into the system.

The end result will be increasing inflation pressure across the board, which will cause all interest rates to rise.

It is likely that interest rates at these levels will never be seen again in our lifetime. Take advantage of them today while you still can so you'll never have to look back and say

"I wish I had...."