That is the current interpretation, and one which has been fairly popular in the past. However, it only actually provides the right not to have one's property searched or eized without probable cause. It says nothing whatsoever about communications privacy. While it can, and certainly will, be argued that letters are a form of possession, it's not quite so definite when it comes to electronic media. There have been no legal rulings stating that electronic communications are not guaranteed inviolable yet, but the case could easily be made. Only those rights which are explicitly guaranteed are solid, and even then, an amendment can overturn them.