It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true.
If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:
“We think that conforming 30-year fixed rates probably make it into the4.625 percent to 4.75 percent rangeat some point during 2017 as a peak.”
Svenja Gudell, Zillow’s Chief Economist:
“I wouldn’t be surprised if the 30-year fixed mortgage rate hits4.75 percent.”
Mark Fleming, the Chief Economist at First American:
“[I see] mortgage rates gettingmuch closer to 5 percentat the end of next year.”
Lawrence Yun, NAR Chief Economist:
“By this time next year, expect the 30-year fixed rate to likely be in the 4.5 percent to 5 percentrange.”
If you are feeling good about your family’s economic future and are considering making a move to your dream home, doing it sooner rather than later makes the most sense.
Author:Bonnie Lelak Phone: 404-788-2580 Dated: January 15th 2017 Views: 146 About Bonnie: Experience with regular home sales, short sales, foreclosures, HUD homes, no down payment program ho...
As a Realtor I have been able to use many of the skills that I have learned from my previous experiences. I spent the past 10 years owning a home inspection company with my husband and watched as buyers would find a home and then have it inspected and be disappointed with the findings. I love being able to help buyers from the start of the process. As a buyers specialist I can help clients look at homes with a different eye, always looking for tings that the home inspector will find issues with and helping my clients see possible issues before going under contract, saving them time, money and heart ache. Servicing all levels of buyers, from the first time home buyers to the luxury buyers. The finishing touch is being able to provide them with tools that can help them pay off their home in less than half the time. Helping buyers find their dream home is very rewarding.
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Mortgage interest rates, as reported by Freddie Mac, have increas
"Bonnie is professional, honest and a pleasure to work with. This was our first home purchase and we really felt like she was in our corner, committed to finding us our dream house at a great price. And that's exactly what she did! She was really there for us, she listen to us and she was patient with us. We highly recommend her! "