First American Chief Economist Mark Fleming commented in the MReport that  expects mortgage rates to remain low for the foreseeable future. Fleming also predicted that increased rate increases may not happen for a couple years.

“It may be as late as 2016, dependent mostly on inflation and labor market conditions over the next six months,” Fleming said.

“The labor market, in particular, remains about the same right now with some excess capacity and weak wage growth,” Fleming said. “This is good for the housing sector as it seems that mortgages rates will remain low, I believe, through the rest of the home buying season.”

Read the full story on the MReport