The median expectation among more than 100 economists and real estate pros, surveyed by MacroMarkets, is that home values will inch ahead by 0.25%, compared to their 2011 median forecast decline of 2.8%. They also foresee annualized gains through 2015 of just 1.1%.
Low interest rates for mortgage are expected to remain cheap. Jay Brinkman, chief economist at the Mortgage Bankers Association, says that the 30-year fixed mortgage rate will stay below 5% throughout 2012.
THE ACTION PLAN: For those want to make a home purchase, 2012 could be a GREAT time to do so. With home prices cheap and borrowing rates low, this window of opportunity may be your best time to buy.
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