Prolonged record low mortgage rates fuel housing value growth, but for how long?

Historically low mortgage rates, along with credit availability, improving economic conditions and low advertised supply levels, have fuelled a solid rebound in housing activity and values. With mortgage rates likely to remain at their record low setting, at least through this year and probably next year, we are expecting to see further upwards pressure on housing prices.  Despite the rapid pace of capital gains since October last year, national housing prices are only 2.8% higher than…