According to Freddie Mac’s Chief Economist Frank Nothaft, the housing market should see improvements in the second half of this year.
With the economy poised for an upswing, Nothaft sees the housing market following suit, with mortgage rates predicted to stay between 4.5 and 5 percent.
As housing price decreases slow (and in some ares increase), consumers with the means to buy a “big ticket item” like a house may pull the trigger, encouraged by stabilizing home values.
Good news is always welcomed in these parts! Let’s hope the predictions pan out.
For more on Nothaft’s outlook read the entire Housingwire.com article.