Interest rates are on their way up and the difference between a 5.5% interest rate and 6.0% interest rate on a $300,000 loan is $95 per month or $1140 per year.  Or you could have up to $15,000 more buying power at 5.5% than if you were at 6.0%.  Plus if you are a first time homebuyer you must be settled in your home by December 1st.  So the name of the game is to act sooner rather than later as the opportunity window is slowly closing.