Analysts expect rent prices to soar in the New Year

(AP Photo/Steve Helber, File)

ALBANY, N.Y. (NEWS10) — Rock bottom mortgage rates are on the way out.

Interest rates are going up and that’s going to make new home loans more expensive.

The New Year could be a great chance to lock in the rate of a lifetime if rates keep rising.

Keep on the lookout for soaring rent prices, as well.

Rents just keep going up, becoming almost unaffordable in some markets.

That means in most places, buying is a much better bargain.

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