Omaha Real Estate

What Are the Experts Saying about Mortgage Rates?

What Are the Experts Saying about Mortgage Rates?

What Are the Experts Saying about Mortgage Rates? | MyKCM

Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying:

Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center:

“In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.”

Scott Anderson, Chief Economist for Bank of the West:

“The tightening labor market, rising wage growth, high levels of consumer confidence and a millennial generation with a pent-up demand for housing should allow the housing market to weather the storm of gradually rising interest rates.”

Ivy Zelman in her latest “Z” Report:

“Although we strongly believe that the housing supply-demand imbalance for single-family homes will continue to drive above-average home price appreciation, just as falling mortgage rates aided pricing power on the margin in recent months, we expect the opposite effect to become evident in the coming months. As such, we project year-end home price inflation of 4.8% for 2017 and 4.1% for 2018.”

Bob Walters, President & COO of retail mortgage lender Quicken Loans:

“A modest increase in mortgage rates won’t have much of an effect on home purchases. A buyer may need to slightly re-evaluate which homes they can afford, but it’s not likely to make an impact on qualifying, in most cases.”

First American Chief Economist Mark Fleming:

"Our survey data shows that mortgage rates would have to be significantly higher to have any meaningful impact. The house buying power that borrowers have, even with rates below five percent, still remains historically strong."

What Are the Experts Saying about Mortgage Rates?
share
What Are the Experts Saying about Mortgage Rates? Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is… more
4 Great Reasons to Buy This Spring!
share
4 Great Reasons to Buy This Spring! Here are four great reasons to consider buying an Omaha home today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6. 9%… more
Which Homes Have Appreciated the Most?
share
Which Homes Have Appreciated the Most? Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7… more
How to Get the Most Money When Selling Your Home
share
How to Get the Most Money When Selling Your Home Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the… more
NEW LISTING! Omaha Home for Sale in Southridge
share
BUY THIS HOME & HAVE NO PAYMENTS FOR UP TO 6 MONTHS, CALL 402-676-6700. THIS IS IT, the home you have been hoping would hit the market! Come in to discover an absolutely stunning 3-bedroom home in South ridge. New carpet and fresh paint… more
Housing Market Expected to “Spring Forward”
share
Housing Market Expected to “Spring Forward” Housing Market Expected to “Spring Forward” Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward! ” Similar to tension in a spring, the… more
Thinking of Selling? Do it TODAY!!!
share
Thinking of Selling? Do it TODAY!! That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME! The… more
Over Half of All Buyers Are Surprised by Closing Costs
share
Over Half of All Buyers Are Surprised by Closing Costs According to a recent survey conducted by ClosingCorp over half of all homebuyers are surprised by the closing costs required to obtain their mortgage. After surveying 1, 000 first-time… more
NEW LISTING! Omaha Home for Sale in Pacific Woods
share
BUY THIS HOME & WE WILL BUY YOUR HOME, CALL 402-943-9494. Very impressive Mediterranean style ranch! Come inside and discover this spacious home with an open floor plan. The split bedroom layout is great for privacy. The kitchen has gorgeous… more
How Long Do Most Families Stay in Their Home?
share
How Long Do Most Families Stay in Their Home? The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As… more