Here is an update on the markets: From Zach Pickering Union Home Mortgage

Debt Ceiling concern- Mortgage bonds follow the 10 year treasury bonds closely. There is uncertainty in the bond market over stalled talks of raising the debt ceiling and what would happen if the government stopped paying bonds on Treasury bills.

Mortgage rates have been trending down all quarter. On May 11th rates were at the lowest levels in months. Today they are at the highest level since March 10th.

With that, you do not have to lock your rate in now. If you are more conservative and feel they will continue to rise you do have the option to lock in and can even do an extended lock.

Supply of housing in Beaufort county is at its lowest level in decades. With rental pricing also at an all-time high, buying a home is still the best long term option especially when you factor in future appreciation of your home.