"The California Association of Mortgage Brokers recently issued its annual Mortgage Forecast report, which projected interest rates will likely to remain within 1 percent of current levels through 2007."
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What is hard to believe is this quote about 1% option mortgages
"The problem with that, said Anderson, is many didn't realize the outstanding interest wasn't disappearing; it was be- ing shifted to the "back side" of the loan amount, adding to their overall total cost, and resulting in buyers being responsible for thousand of dollars in additional cost they would have avoided with 30-year or even 5- or 2-year fixed rate mortgages."
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