How Long Will Mortgage Rates Stay this Low?

This week Matthew Gardner, Windermere Real Estate’s Chief Economist, discusses current mortgage interest rates. Interest rates are currently right around 3% and mortgage applications, driven by those historically low rates, are up 25% over the same period last year. It’s amazing to look back to the early 1980s when mortgage interest rates were in the high teens. But, how long will interest rates stay this low and what impact are these interest rates having on home prices?