Interest Rates

Besides discounted prices, buyers today are making buying decisions based on great interest rates. Last week Margaret Wells at OBX Bank quoted a 30 year rate at 4.625% with three-quarters of a point for an origination fee. Since then rates have come up a little. Today she quoted the rate on the same type of loan at 5.125% with one point for an origination fee. What was the reason for this quick jump in rates? It is beyond my limited knowledge of economics but some people believe the high demand for the low rates caused the increase. Others believe it was because of recent federal government actions. One thing I do know is that rates can not get much better and when they go up it will have a huge impact on buying power. If you are seriously thinking about buying over the next few years, now may be as good as it gets.