How long can mortgage rates stay this low?
Mortgage rates are still at historical lows, and haven’t started to rise like many analysts predicted when the government ended its home buyer tax credit program. The European credit crisis held off increases for a while, but how much longer can rates stay this low? It’s a tough call, and even the experts are hesitant to say. “[I]t’s hard to see how rates might go much lower for very long,” Mark Zandi, the chief economist of Moody’s Analytics, told the New York Times. “Once the recovery gains a bit of traction, rates will rise,” he said.
