Currently the Federal Reserve is artificially lowering the prime rate in the face of pending high inflation. Take advantage of the low rates while you can. Japan did the same thing in the 1990's and it signicantly slowed their economy.

Think about this: The prime rate is the rate at which the U.S. government is loaning money to banks. It is essentially zero percent right now. The banks are borrowing the money and using the money to purchase U.S. treasury bonds at a rate of greater than they are borrowing. The U.S. government is handing money to the banks in hopes that the cash will stimulate the economy. If you have tried to borrow from a bank or refinance a loan lately, the opposite is happening. It is difficult to get a loan.

Unfortunately the banks are allowing only those with excellent credit to get those mortgages.

It is amazing that the banks through credit cards can charge 25% interest on unpaid balances, and still borrow money for a fraction of a percent.

There are REITS (Real Estate Investment Trusts) which are able to pay 20% dividends to their shareholders but are able to borrow money for under 3%, and whose loans (mortgages) are backed up (guaranteed) by Freddie Mac or Fannie May (essentially arms of the US government). That is big bucks with little real risk.