Described as a “battle over rates raging inside the Fed,” opinions within the Federal Reserve are split as to if and when the Federal Funds rate should be raised. The financial markets, already volatile, have seen dramatic swings up and down as analysts mind minutes from Fed meetings, trying to get a picture of the Fed’s intentions.

In the meantime, the planned four interest rate hikes for 2016 have come to nothing; mortgage rates have hovered near record lows, and indices tracking new home purchases, mortgage originations, and refinances, have all neared or surpassed all-time highs.

The question is still “when” not “if” the Fed will decide to increase borrowing rates, but for the foreseeable future, lenders and loan officers can’t get complacent. Take advantage of the good times, because the current low-rate environment, and the high mortgage volume that comes with it, certainly can’t last forever.