I suspect that the low rates will last at least through the election. Regardless of who gets elected, and I would definitely put my money on the current regime, rates should start to rise. Price inflation on food and other essentials has happened for awhile now. I think we need at least 100-200 bps before we see some effects.

Also lets not forget the steps that are being taken to keep distressed homeowners in their homes. I suspect this is not as negligible as we think.