Mortgage rates are finally retreating off highs retreating to as low as 4.75% according to Freddie Mac’s Primary Mortgage Market Survey. This retreat should prove to be impactful on the housing market in the upcoming year. Home buyers should enter into 2019 with a renewed sense of confidence with the decline of interest rates as this creates a competitive and attractive landscape for purchasing.
The forecast includes many similarities from 2018; the majority of transactions will be purchases with an expectation for fewer re-finances and increased remodeling and renovation spending.
At last, it looks as if #housingaffordability will reign and the year looks to be promising for home buyers.
Read Entire Housing Market ForecastNational Association of Home Builders and Housing Wire