05/21/2024
What’s Next for Home Prices and Mortgage Rates?
If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates.
1. What’s Next for Home Prices?
One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.
According to the most recent release, experts are projecting home prices will continue to rise at least through 2028.
While the percent of appreciation varies year-to-year, this survey says we’ll see prices rise (not fall) for at least the next 5 years, and at a much more normal pace.
2. When Will Mortgage Rates Come Down?
This is the million-dollar question in the industry. And there’s no easy way to answer it. That’s because there are a number of factors that are contributing to the...
If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates.