Mortgage rates are expected to fall into the 5% range, with home prices remaining flat or slightly lower, leading to modest affordability improvements. Home sales may rise but remain low due to limited inventory and affordability issues. Home builders will face challenges moving inventory. More borrowers will choose adjustable-rate mortgages, and large lenders will gain market share. Homeowners may tap equity more, and short sales could return. The housing market is not expected to crash.
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