What's Next For Home Prices and Mortgage Rates?

Future Trends in Home Prices and Mortgage Rates If you're planning to buy a home this year, you're likely curious about what to expect with home prices and mortgage rates. Deciding when to move can be tricky, but understanding the market trends helps you make a well-informed choice. **What’s Happening with Home Prices?** Experts, including those surveyed in Fannie Mae’s Home Price Expectations Survey, predict that home prices will continue to climb at least until 2028, though at a slower and more normal rate compared to recent surges. This means if you buy now, your home's value is likely to increase, building equity over time. Waiting, on the other hand, might mean paying more as prices rise. **What’s in Store for Mortgage Rates?** Forecasting mortgage rates is complex due to factors like inflation, economic conditions, and global events. Experts suggest that although rates could dip later this year, fluctuating economic data could keep things unpredictable. According to Odeta Kushi, Deputy Chief Economist at First American, elements such as inflation trends and job market data significantly influence mortgage rates. If you're financially ready to buy now, consulting with a trusted real estate advisor can help you navigate your options and make the best choice for your situation. **Bottom Line** Keeping up with expert insights on home prices and mortgage rates is crucial as you plan your move. Let's connect to review the latest data and ensure you make an educated decision tailored to your needs.

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