Inland Empire real estate trends: Interest rates likely to rise as prices fall

But Bruce Norris, a Riverside real estate investor who has successfully predicted past trends, figures the interest rate on a 30-year-fixed rate mortgage could climb from 6.5 percent to as high as 9 percent in the next two years. That would make even significantly lower prices \”a moot point,\” he said, for those needing financing. For someone wanting to buy a house to live in, Norris said, it\’s a good time to tie up long-term financing, which now is as cheap as it is going to get.