CoreLogic: 2016 Housing and Mortgage Rate Forecast

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Posted To: MND NewsWire

Over the next three weeks we will probably be subjected to more housing forecasts for 2016 than ads for Chia Pets. Here is the version provided by Frank Nothaft, senior vice president and chief economist at CoreLogic. Nothaft presumes, like most in the field, that the Federal Reserve will raise short term rates and predicts that increase will be about one percentage point, achieved gradually , by the end of next year. Homeowners with adjustable rate mortgages or home equity loans can expect to see their payments rise as will people who take on new fixed rate mortgages. The latter will probably rise by about a half-point which will put the 30-year fixed rate mortgage around 4.5 percent by the end of 2016. Household formation rose significantly this year and Nothaft expects that to continue,...(read more)

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Source: http://www.mortgagenewsdaily.com/12082015_housing_forecasts.asp

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