The housing market has shown signs of strength recently, but momentum remains elusive. Will this be the year that housing breaks out? Expert opinions vary, but most see a moderating market that will continue to pose a challenge for new homebuyers. Mortgage rates – Most estimates for mortgage rates suggest the post-election trend of sharply rising interest rates will end soon. The online real estate brokerage Redfin predicts average interest rates for a 30-year fixed rate mortgage to stay below 4.3% in 2017, although rates were already there as of December 22 according to the St. Louis Fed. The National Association of Realtors (NAR) predicts a modest rise to 4.6% while Realtor.com predicts 4.5%.
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