Low interest rates eventually create a suckers market, as many "first time home buyers" (many of whom are far from financially savvy) treat a mortgage as "free money," until they get behind on their payments.
I'm not buying anything until I pay off my student loans, I don't care how low rates are!
Smart woman (or man). You would do well to hold off for a few more years when there will be a huge real estate bust. Prices will fall significantly.