The economy is improving … but not enough to raise interest rates. That is why the U.S. Federal Reserve recently announced that it will maintain until the end of 2014, interest rates low (since December 2008 were less than 0.25%) to further stimulate the economy.

What does this mean for you? That is likely to remain mortgages with low rates too. ARMs commonly follow the direction of interest rates that determines the Federal Reserve, so it might be a good time to buy a house. Of course, we must note that the requirements for obtaining a mortgage are more stringent today than they were before, but you’re buying a home and meet all the requirements for obtaining a loan, there is no doubt that you will get rates casualties.

On the other hand, if you have a mortgage and you refinance, this is a good time to do that too, because interest rates are so low that you can probably get a better mortgage terms of 15 or 30 years.