There's no doubts that mortgage rates are low right now. When it comes down to it, you want to make sure that your rate still gets you to your budgeted monthly payment. As Jason of Peoples Home Equity here in the Triad says, "you don't pay a rate, you pay a payment." It's up to you to determine if your monthly mortgage payment fits within your budget and then work backwards from there. What means more to you - your mortgage rate or your mortgage payment?
