As the new year begins, there are no shortage of stories telling us what to expect in 2012. Housing finished 2011 with momentum and mortgage rates closed at the lowest rates of all time.
Some expect those trends to continue through the first quarter and beyond. Others expect a rapid reversal.
Who’s right and who’s wrong? A quick look through the newspapers, websites and business television programs reveals “experts” with opposing, well-delivered arguments views. It’s tough to know who to believe.
For example, here are some “on-the-record” predictions for 2012 :
- Home prices will rise in 2012 (says Freddie Mac)
- Home prices will fall in 2012 (says CBS News)
- Mortgage rates will rise in 2012 (says American Banker)
- Mortgage rates will fall in 2012 (ays the LA Times)
The issue for buyers, seller, and would-be refinancers nationwide is that it can be a challenge to separate a “prediction” from fact at times. Read More
If you’ve been looking at mortgage rates for a purchase or refinance, now may be a good time to explore. FHA and conforming rates contimnue to stay at low levels. Going forward, rates have much more room to rise than to fall.
