Two Reasons Why Waiting a Year To Buy Could Cost You

To determine if you should buy now or wait, you need to ask yourself two simple questions:

What will home prices be like in 2022? And where will mortgage rates be by the end of 2022? Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts: Freddie Mac: 5.3%, Fannie Mae: 5.1% and Mortgage Bankers Association: 8.4%. Using the average of the three projections (6.27%), a home that sells for $350,000 today would be valued at $371,945 by the end of next year. Today, the 30-year fixed mortgage rate is hovering near historic lows. However, most experts believe rates will rise as the economy continues to recover. Here are the forecasts for the fourth quarter of 2022 by the three major entities mentioned above: Freddie Mac: 3.8%, Fannie Mae: 3.2%, and Mortgage Bankers Association... #expertanswers #stayinformed #staycurrent Welcome HŌM