Moral of this story,if you've got money to buy a house,DO NOT BUY WHEN INTEREST RATES ARE LOW. Sit back wait till they go up,the higher the better and save abot 100-200k on the purchase.Pay the higher rates till the goofball Federal Reserve starts dropping rates because for some reason they never seem to be able to leave them alone,and refinance at the lower rate !!!
Me and 95% of Californians stopped reading right there, senor.