Housing Outlook 2017

In so many ways 2016 was an unprecedented, volatile, and, for some, excruciating 12 months. And the housing market was not immune to the year's whims. At the start experts anticipated a pick up in building activity, instead builders are still not producing enough homes. 

Meanwhile, home prices appreciated beyond expectations and mortgage rates toyed with record lows before crossing 4% for the first time in two years. "If the expectation was that the market would transition smoothly from deep red hot recovery to normal--that certainly didn't happen," says Svenja Gudell, chief economist at real estate data firm Zillow.

Mortgage Rates Are Back Down: Why They'll Stay Low
Mortgage rates were down last week, averaging 4.09 percent for a 30-year, fixed-rate loan, down from 4.12 percent last week. 

Last year at this time, the rate was 3.81 percent, according
       to  Freddie Mac.

Expansion or Recession in 2017:
Housing will Survive

How will the economic philosophy that was altered by the last election actually evolve into policy? 
This is the question raised by Fannie Mae's Economic and Strategic Research Group, headed by Doug Duncan, Senior Vice President and Chief Economist say, in their January economic forecast.  

With limited information available on the economic priorities of the New Administration, and those of the House and Senate also uncertain, "establishing reasonable estimates of the nature and sequencing, much less the magnitude, of policy changes [is] unusually challenging." Thus, the company's economic team says its theme for 2017 is "Will Policy Changes Extend the Expansion?"
 
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