Read this article by a smart guy, Larry Berman. He has put forward a very thoughtful analysis of the future of interest rates. Over the last few years I have been very vocal in stating exactly the same thing. Interest rates cannot rise much in an era of massive government debt. Not only that, the debt continues to be piled on in record numbers. Fiscally responsible government and fiscally responsible consumers are a fallacy.
You can read the full article here.