I got a call from GoDaddy the other day warning me that VeriSign is raising the price of domain registrations. This seems like a big deal because the price hike is happening on July 1st. The truth, though, is that VeriSign announced the price increase six months ago in December of 2009. Additionally, ICANN's agreement with VeriSign says that the company can raise the rates for .COM and .NET domains by up to 7% every year. Although VeriSign increased their rates in the initial two years of their contract, they elected not to do so in 2009.

If you've been considering getting a new domain, or have a few domains that are about to expire, I recommend grabbing your domain now before the rates go up.