Five Features Will Mark 2017 Housing Market

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Posted To: MND NewsWire

Tis the season – for hearing from all the experts about what we can expect the coming year to bring. Today it is CoreLogic’s Senior Vice President and Chief Economist Frank Nothaft’s turn. Nothaft, writing in the company’s December MarketPulse magazine, says economic growth will be key for the housing market in 2017 and projects that growth will be between 2 and 2.5 percent. Along with that growth he expects we will see five features. 1. Interest rates will be higher . He is looking for fixed rates to average just over 4 percent for the year for both single- and multi-family loans. The Federal Reserve’s rate hike last week and the three additional increases they have projected for next year will increase the cost of loans tied to short term rates such as home equity lines or HELOCs. 2. Vacancy…(read more)

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