Jan. 8, 2019
New Year, New Predictions, what does the crystal ball hold for mortgage rates in 2019.
The consensus, rates will pierce the 10 year high.
How will that impact the Oahu market?
Experts weigh in on what the 2019 housing market will bring "A year ago, several experts predicted the new tax law would cause a slowdown in the housing market. So far, the limitations on mortgage-interest and property-tax deductions haven’t had a negative impact. Instead, rising mortgage rates and home prices are doing more to put a damper on the market."
2019 Predictions: Worse Affordability, Commutes, Natural Disaster Losses "The 30-year, fixed rate mortgage reaches 5.8 percent – territory not seen since the dark days of 2008, when rates were racing downward in response to the housing crisis. In 2019, rising rates will compound the effect of still-climbing home values, making homeownership even less affordable. Already, rising mortgage payments eclipse home-value gains, a phenomenon that can both encourage homeowners to stay put – to hold onto low mortgage rates that are disappearing in the rear-view mirror – and discourage would-be first-time home buyers."
2019 Real Estate Forecast: What Home Buyers, Sellers And Investors Can Expect "In recent months though, home price growth has faltered, rates have risen to their highest point in nearly eight years, and favor has started to shift from seller to buyer."