Mortgage rates expected to remain low into the first quarter of 2012

The HSH.com Two Month Mortgage Rate Forecast expects mortgage rates to remain low through the early period of 2012, helping keep housing more affordable for qualified borrowers.

The forecast predicts mortgage rates will range from 4.2 to 4.5 percent over the next two months for 30-year fixed-rate mortgages, and between 2.95 and 3.25 percent for 5/1 adjustable-rate mortgages.

"The economy is growing mildly, soothing Federal Reserve policies are in place and the fiscal crisis in Europe is getting proper attention," said Keith Gumbinger, vice president of HSH.com. "Absent a new shock of some sort, we are in a bit of a holding pattern and should largely remain there."

However, not all borrowers are qualifying for home loans and are unable to take advantage of the low mortgage rates. Fox Business reported that there are options for these consumers who still dream of homeownership. Consumers can seek out a landlord who would lease a property to them for a period of time as they improve their credit scores, and then possibly sell them the property when they acquire a mortgage. There are also community social service agencies that offer programs to help low-income homebuyers receive assistance.

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