Here are the latest housing market predictions for 2021 & 2022. It has been roughly one year when the pandemic put the housing market on hold for several months last spring. But the real estate market bounced back rather quickly. For nearly a year now, low mortgage rates and increase in working from home ignited by the pandemic have fueled a rapid increase in housing demand — espicially in lower-density suburbs. Despite uncertain economic times, there has been a booming residential housing market.
Long-term mortgage rates continued to move lower this week, with a 15-year fixed-rate mortgage falling to a record low for the second consecutive week.
I just locked down a 2.875% interest rate, fixed for the 15-year term of the mortgage. No points. With rates like these, I find myself rethinking the idea that I want to pay off my mortgage.
So far, I’ve never heard the same commotion in the market and the media unlike earlier this year when the US economy earned an embarrassing downgrade.
