Fewer consumers say home prices, mortgage rates will grow in 2019

The net share of those who say home prices will go up over the next 12 months decreased 3 percentage points to 38%. This component is down 8 percentage points from the same time last year. The net share of Americans who say mortgage rates will go down over the next 12 months increased 8 percentage points to -29%.

Sixty-one percent of consumers say they think home prices in their communities have increased over the last 12 months, down from 63 percent in the fourth quarter of 2018. Forty-seven percent believe prices will rise in the next six months, while only 10 percent believe home prices will drop in that time period.

Here are some question and answers on what this could mean for consumers, businesses, investors and the economy: Q. I’m thinking about buying a house. Are mortgage rates going to march steadily higher.

Surging prices for new homes suggest tight low-end supply However, given headwinds for high-end markets such as a reduction in property tax deduction, price appreciation will be more concentrated in middle- to low-end markets going forward. New home..

"With fewer bargain-priced properties to choose from and a growing number of traditional buyers, finding a home for vacation purposes became more difficult and less affordable last year." Vacation and investment buyers were more likely to take out a mortgage and use their property as a short-term rental last year, according to NAR’s study.

This is one of the best times in history to refinance, but will rates stay low?. data has one commentator saying we'll see the lowest rates ever in. So when it cuts its rate prediction by nearly 1%, consumers should pay attention.. to seriously consider a home purchase or refinance in the next few months.

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"Lower mortgage rates, higher wages and more homes for sale have helped counteract rising home prices, and ultimately, made it so that buyers are able to afford more than last year," said Danielle.

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While the cost of a mortgage went down last month, the cost of a house kept going up. NAR reports the median existing home price for all housing types in May was $277,700, up 4.8 percent from May.

Fannie Mae Survey: Consumers Struggle To guess future mortgage rates, Home Values Posted on December 10, 2014 in Recent News Fewer U.S. consumers believe the economy’s "on the right track" and less than half think "it would be easy" to get a mortgage.