With the shaky economy and the housing market in shambles, many would-be first time home buyers feel it's better to wait out the bear market before purchasing a house. Although a sound strategy for some, it doesn’t apply across the board. If your credit score is 700+, your employment status secure and you earn (at least) a middle-class salary, there are great housing options available. In fact, these options continued to improve as recently as last week. On December 18, the average interest rate on a 30-year fixed mortgage dipped to 5.19 percent, the lowest rate ever reported by Freddie Mac in its 37-year history of surveying mortgage rates. This newest average is also significantly lower than the 6.00+ percent rates present throughout much of 2008.