The good news is interest rates are still at an all time low.
The bad news is the Fed is already starting to back out of the market. The Feds plan to be completely out by March 2010. As the Fed pulls out of the market, interest rates will increase at about .5% to .75% over the next 3 or 4 months.
So if you are sitting on the fence, get off. Now is the time to buy!