These are good rates, when you add in the First Time Buyers 10k tax credit its a good deal. Now its still a matter of finding the bottom of the housing market. A better price is better than a great rate.
That depends how much you’re expecting the prices to fall.
I did a rough calculation and came up with these equivalences in terms of total cash outflow (assuming 30yr fixed):
300k @ 6% = 355k @ 4.5%
536k @ 6% = 635k @ 4.5%
Those are fairly sizable discounts.
Hopefully what we will see is both a rate decrease AND these ultra low rates. Of course that might mean the world is about to end, though.