New Housing Market Predictions: The Future of Rates & Prices
Download MP3 Housing Market Outlook for 2024, 2025, and Beyond:
- Housing prices and mortgage rates are expected to keep rising in the coming years.
- Millennials will significantly influence home prices, driving them higher, backed by data from Fortune.
- Full details, including charts, can be found in the link below.
Mortgage Rates and Their Impact:
- Mortgage rates are expected to increase due to both interest rates and changes in mortgage underwriting processes.
- New FHA underwriting changes will make millions of Americans ineligible for mortgages, especially those with lower credit scores.
Interest Rates:
- Although interest rates have paused for now, some rates have dropped slightly by a quarter point.
- Future rate hikes are likely, with the Fed expected to leave the benchmark rate unchanged in the short term, but increasing again in Q2 of 2024.
What to Expect Going Forward:
- The housing market is poised for more changes in the upcoming years, with higher prices and more expensive mortgages.
- Let us know your thoughts on housing prices and interest rates in the comments below!
