Interest rates have not been this low in decades and probably won't be for the next 30 years, according to Jeff Taylor, managing partner at the risk and compliance firm Digital Risk.
Taylor told Big Data Download that interest rates will begin to rise, so now is the time to buy a home.
Banks have been forced to focus on manufacturing loans with firms like Digital Risk who specialize in keeping the banks compliant with all the new and evolving regulations ever since the mortgage crisis crippled the housing industry a few years ago, according to Taylor.
One piece of advice from Taylor is to have all documentation, especially income and assets, complete and accurate to avoid potential problems with paying the mortgage.
-By Christina Medici Scolaro
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