Interest rates, tax credits, and the stimulus bill

Wow, there's an interesting title. I just about put myself to sleep even typing it! Unexciting as these concepts may sound, though, they're at the crux of our economic situation. Mortgage interest rates have been hovering between 5% and 6% for the last several months. I don't know how long that can last. As the federal government gears up to spend even more money we don't have, I expect the credit markets (for whom we are ostensibly spending) to contract even more. The less money flowing in the stock market translates into more money being dumped into Treasury bonds which in turn drives up mortgage rates. Meanwhile, Congress is also considering changing the $7500 first-time buyer tax credit to a $15,000 tax credit for ANY homebuyer.
What does this all mean if you're thinking of buying? IMO, for what it's worth, a low-interest fixed rate mortgage is probably the safest housing option available, other than a paid-off home. Renters are always at the mercy of their landlords, particularly if the economy continues to crumble. With a mortgage (particularly one without a pre-payment penalty) you will eventually own your home outright. That will never happen if you rent. The ultimate security in an uncertain world is stability for your family; if you own a home, at least you have that. And unless our Constitution utterly collapses, you have the rule of law to enforce your property rights.