Where are interest rates headed?

In short, I believe that interest rates will remain untouched by the Federal Reserve for the next year. But, I also believe that mortgage interest rates will go up over the summer as the housing market heals, and then back down in the Fall.

clipped from www.cnbc.com New Home Sales Post Sharpest Climb in 14 Years, but Prices Down Sales of new U.S. homes rose 16.2 percent in April, the sharpest climb in fourteen years, while prices fell a record 11 percent, according to a government report on Thursday that showed home builders taking extraordinary steps to move houses. "You have to take this number as an outlier," said CNBC's Senior Economics Reporter Steve Liesman. "You cannot think that we are back to the good old days when it comes to housing." clipped from www.cnbc.com 00:00/03:23 Economic Smackdown 1180023000000 203299 Fed;Inflation;Interest Rates;Market Outlook;Topics/Economy (U/S/);Topics/Stock Market;General;General Retailers; clipped from www.cnbc.com Analysts polled by Reuters are expecting April existing home sales to rise to 6.14 million unit pace from the 6.12 million in March when that data is released Friday. Realty Check with Diana Olick 4-Week Jobless Trends Hit Year Low