Mortgage rates in 2010 were the lowest in six decades, but a recent and sustained increase may indicate that consumers can expect to pay more in the new year to buy or refinance a home.
Mortgage rates floating around 5 percent.
Low Mortgage rates around 5 percent keep the demand for foreclosures strong
Buying a foreclosure property that is already deeply discounted is even more enticing with interest rates at record lows.
Five percent interest rates, first time buyer tax incentives that have been extended through April of 2010, and low prices have buyers serious about making their home purchase.
Prices declining substantially in the low end markets is doubtful.
Interest rates are expected to stay low for a while. When inflation starts to take hold interest rates will jump to 6.5 or higher.
