U.S. Housing Market Outlook For 2017

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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