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:
“While full employment and rising inflation aresigns of a strong economy, they also have the potential to push mortgage rates and house prices up. The higher rates and higher prices create significant affordability concerns, which may continue to characterize the housing market for the rest of 2017.”
“By the time we get to thefourth quarter of this year, we will still be under 5 percent – we are thinking4.7 percent…Something north of 5 percent by the time we get to 2018, and by the time we get to 2019, we show fourth-quarter rates hitting 5.5 percent.”
“Despite some regional disparities, title agents and real estate professionals do not expect increasing mortgage rates to have a significant impact on the housing market this spring. Continued good economic news, increasing Millennial demand and confidence that buyers will remain in the market even ifrates exceed 5 percent bode well for 2017 real estate.”
Buying & Selling Real Estate in Northern Kentucky or Greater Cincinnati
Everything you need to know about Buying or Selling a home can be found on this site. As a preeminent REALTOR® in the Northern Kentucky communities of; Boone, Kenton, Campbell & Grant counties, Jason Asch and his team of real estate professionals are truly dedicated to producing the finest service available for their clients. Jason Asch is the #1 Keller Williams agent in Northern Kentucky for Volume and units sold. With over 20 years of full time award winning service use Jason and his team as a resource for your next move.
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Some industry experts are saying that the housing market may be headin
"My family had been looking at various properties for nearly two years. Jonathan Ehlen's no pressure sales approach made us feel very comfortable as we made this life decision. Once we found the property we loved, Jonathan handled all aspects of the sale of our current house, as well as the transition to the new home. Through Jonathan's approach, it really took the stress of moving out of the equation, and made it a very pleasurable experience for our entire family. His communication was very thorough, especially when he sold our house in 48 hours." "