Susan Cleary, The Cleary Group of Remax One

Mortgage rates remain low

Mark Vitner, an economist with Wells Fargo, predicted that mortgage rates will remain at historic lows through 2014, keeping home buying affordable. Mr. Vitner forecast that the rate on a traditional, 30-year mortgage, now at roughly 3.4%, will “bottom out” at 3.3% in next year’s first quarter amid concerns about federal budget-balancing efforts. “We will probably be at an all-time-low in interest rates late this year or early next year.”