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How Long Will Interest Rates Stay High?



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Dr. Alice Mills was thinking of selling her veterinary practice in Lexington, Ky., this year, but she decided to put the move off because she worried that it would be difficult to sell in an era of rising interest rates.“In a year, I think that there’s going to be less anxiety about the interest rates, and I’m hoping that they’re going to go down,” Dr. Mills, 69, said. “I have to put my faith in the fact that the practice will sell.”Dr. Mills is one of many Americans anxiously wondering what comes next for borrowing costs — and the answer is hard to guess.It is expensive to take out a loan to buy a business or a car in 2023. Or a house: Mortgage rates are around 7 percent, up sharply from 2.7 percent at …

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