Will 2017 Be The Year to Move Up to Your Dream Home?

If so, sooner is better than later….Americans are regaining faith in the economy.  Indexes have each shown a dramatic jump in consumer confidence!!

This usually means great news for the housing market when we are all seeing an optimistic future.  The consumers are starting to dream again….about the home their family has always wanted.  Now may be the best time!  Why?  Because the two components of your monthly mortgage payment (home prices and interest rates) are both expected to increase as the year moves forward, and interest rates, may increase rather dramatically.

Here are some predictions about where rates will be by the end of the year:

HSH.COM

We think that conforming 30-year fixed rates probably make it into the 4.625 percent to 4.75 percent range at some point during 2017 as a peak.

Svenja Gudell, Zillow’s Chief Economist

I wouldn’t be surprised if the 30-year fixed mortgage rate hits 4.75 percent.

Mark Fleming, Chief Economist at First American

I see mortgage rates getting much closer to 5 percent at the end of next year.

Lawrence Yun, NAR Chief Economist

By this time next year, expect the 30-year fixed rate to likely be in the 4.5 percent to 5 percent range.

So what’s the bottom line here?

If you are feeling good about your family’s economic situation and are considering making a move to your dream home, doing it sooner rather than later makes the most sense.  Let’s chat: 631-774-2528

I BELIEVE EVERY FAMILY SHOULD FEEL CONFIDENT WHEN BUYING AND SELLING A HOME!b0ab4e3d-be86-40f0-b89a-88eef333768c

 

 

 

About The Author

Jolie Powell

Jolie Powell has been a distinguised leader in the Real Estate industry since 1987. Prior to entering the world of Real Estate, she worked as a TV producer for the Advertising Agency, Dancer Fitzgerald Sample in NYC. Jolie's expertise in counseling buyers and sellers brings people together from Long Island, and indeed, Globally! Having lived abroad and traveled extensively, Jolie has an excellent understanding of many cultures. As a Cuban-born American, she is fluent in Spanish and communicates well with international clients relocating to the North Shore of Long Island. Jolie is proud of the high level of trust she and her clients have established and looks forward to continue building exceptional client/broker relationships.

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