“History shows the only place for interest rates to go from here is higher.”
Examine the above chart of interest rates for 200 years.
Rates rise and fall in long cycles, 20 to 40 years from a peak to a trough.
Important highs occurred in 1920 and 1981.
Important lows occurred in 1946 and probably 2016.
Current rates are the lowest in 200 years. Some analysts have said the lowest in 5,000 years.