Rates are slowly drifting upward. They have risen ½ % point since the lows of last fall. People have gotten too used to low rates and don’t get that this is historic and not normal. The federal reserve has been artificially keep in g interest rates low by buying up 10 year bonds. This is the rate that determines mortgage interest rates., Just the announcement that they are planning –just planning- to end this has started the upward spiral. They have not said if they will stop buying all at once or gradually.
Rates were as high as 16% in 1981 and was as high as 8% just 13 years ago so don’t get complacent about this.
If you can qualify, you should buy as many houses as the banks will let you. Find a partner who can qualify if you can’t. Find a partner who has money if you can qualify. JUST DO SOMETHING. You and your partner can buy and hold- either until the next housing top or until your both retire and cash out.
There is still the option of owner finance or subject to but that takes more skill and knowledge. you need a mentor to show you how.