What Are the Experts Saying about Mortgage Rates?

What Are the Experts Saying about Mortgage Rates? | Simplifying The Market

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’s Your Home Worth?

Search for Your New Home

25496 N 160 Lane Surprise, AZ 85387

$447,590
4 Beds
3 Baths
2,049 SqFt
Status Active
MLS # 6669086
Property Type Single Family Residence
Price Type --
Brand new, energy-efficient home ready NOW! Large great room and dining space. The kids can create their own play space in the included flex space. White cabinets with quartz countertop and grey tile flooring in our Balanced package. Come tour our five brand-new models at Paloma Creek. Envision your next chapter by experiencing the exclusive amenities including a clubhouse, pool, and future fitness center. Pick from a variety of floorplans featuring walk-in closets and flex spaces. Each energy-efficient home comes standard with features that allow your whole family to live better and breathe easier too.* Visit Paloma Creek today. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

41585 W Coyote Run Maricopa, AZ 85138

$447,590
5 Beds
3 Baths
2,552 SqFt
Status Active
MLS # 6635222
Property Type Single Family Residence
Price Type --
Brand new, energy-efficient home available NOW! Each of the five bedrooms in this floorplan features a spacious walk-in closet. White cabinets and granite countertops, tile flooring with brown carpet in our Distinct package. Enjoy 3-car and RV garages at Copper Ridge located in Maricopa. Your family will enjoy Maricopa's small town feel and local hubs. Plus, all the resources of metro Phoenix are only a short drive away. We also build each home with innovative, energy-efficient features that cut down on utility bills so you can afford to do more living.* Visit Copper Ridge today. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

2332 W Monte Cristo Avenue Phoenix, AZ 85023

$447,500
4 Beds
2 Baths
1,457 SqFt
Status Active
MLS # 6671871
Property Type Single Family Residence
Price Type --
Newly remodeled home at 2332 W Monte Cristo, Phoenix, AZ, features 4 bedrooms, 2-car garage, and 2 living rooms. Modern upgrades offer style and convenience in a spacious layout. Located in a vibrant Phoenix area, known for excellent schools, shopping, dining, and leisure activities, this property combines comfort with the benefits of city living. Ideal for those seeking a turnkey home in a thriving community.

6668 E Saddlehorn Circle Hereford, AZ 85615

$447,500
3 Beds
2 Baths
1,825 SqFt
Status Active
MLS # 6628206
Property Type Single Family Residence
Price Type --
No need to wait for a home to be built. This one is only 2 yrs old and in perfect condition and has all window blinds installed, landscaped yard, and water softener added. This gorgeous 3 bed 2 bath home features all tile flooring throughout, quartz countertops, and stainless appliances. The primary bedroom is very large with a beautiful bath and large walk in closet. The other bedrooms are nice sized whether they are for children, guests or office. The home also features a full length covered patio to sit outside and enjoy the awesome views and spectacular sunsets. The garage is oversized so there room for bikes or exercise equipment. This home is spotless and is truly move in ready to enjoy in the Kings Ranch Subdivision.

Leave a Reply

Your email address will not be published.