There is no denying that throughout 2018, the housing market has its influxes and its downfalls. For most of the previous year, the housing market began with high pricing homes and low mortgage rates that reach historical levels. During the recent months, however, the price growth of homes began to fall down from their original percentage and the overall rates have increased to their maximum point in the past eight years. The market too has shifted in favor, leaning for towards the seller than to the buyer.
One question amongst the many real estate agents and economists in the housing market have arisen in recent years: will these housing market trends continue in the years to come? Is there to be any more surprises for 2019’s expected housing market?
All these questions along with the major one have already caught wind of the situation, and as such, many are already predicting what the real estate market will be like in this year that is 2019.
Will Mortgage Rates Continue Rising?
At Zillow, Aaron Terrazas believes that the mortgage rates will remain their low rates, if not decreased to an even lower one in the year ahead. He claims that the total percentage of the mortgage rates in 2019 will rise to about 5.8% for the fixed rate mortgage. This wasn’t shown as much clearly since the early days of 2008, especially after the events of the stock market crash.
Rana Khanjani, MBA
San Fernando Valley Iranian-American Real Estate Agent
Providing Services in English and Farsi
Address: 22020 Clarendon St. 200, Woodland Hills, CA 91367