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"Mortgage rates
increased in the week
following the FOMC
announcement of
'quantitative uneasing.'
Even if rates rose by
another 2 percent
to approximately 6
percent by the end of
2018, which is highly
unlikely, rates would
still only be where they
were in 2008—a level
that homebuyers had
not seen since the mid-
1960s."
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from a growing-rate locked-in effect, and
it's fair to ask, "Are homeowners becoming
prisoners in their own homes?"
What else should those following the
housing market look out for in the next
year? Any wild cards? I see a pretty clear
narrative for next year that really seems to
be an extension of this year. Modestly rising
rates, tight inventory in most markets, and,
therefore, strong house-price appreciation.
e wild cards I believe would be from the
macroeconomic or geopolitical stage. What
often happens in other countries and financial
markets can influence our mortgage rate
outlook, and not always negatively.
Who would ever have thought that Brexit
would benefit the U.S. housing markets with
a mortgage-rate deduction? Yet, that's what
happened. If the housing market outlook
changes, my guess is that it will be because of
something shocking our economy or financial
markets.
