Not an economist but interest rates will stay low until they don't. Where Japan is now, we will be in the future only not as bad. US population is growing, Japans is declining. Japan has a huge deficit and their economy is shrinking. The US has a huge deficit and the economy is probably shrinking a tad after inflation but maybe not by much, tough to tell. I locked in some 2.75% financing for 15 years and some 4% for 30 years. Fixed rate debt at such low rates is a very good inflation hedge, bond funds at today's rates will give you a deflation hedge. (ie rates drop, the high yield bonds of today jump in price.) just 2 cents