It is a true buyer's market here in Ann Arbor. There are many, many houses to choose from at very good prices. In addition, the interest rates are still great. Yesterday I was quoted the following rates with 20% down:
6.5% with 0 points,
6.25% with 1 point,
6.0% with 2 points.
It is also still possible to find loans while committing less money for a down payment.
What are you waiting for?