That’s the good news right?
Remember, the older iPhone 4 is the last Apple model that actually has quick success when it comes to Jailbreaks.
The newer iPhone 5 series is a whole other challenge when it comes to a Jailbreak for the iOS 7 and the new iPhone 5’s.
It’s available from opensn0w but be aware – this is a tethered jailbreak so likely not for the average user.
There are reports that the Jailbreak for the newer processors (those above the iPhone 4 model) will take longer but there is still some promise this will be achieved.
Here’s a good overview of prospects: