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CoreLogic: 2016 Housing and Mortgage Rate Forecast
Friday, December 11, 2015
Over the next three weeks we will probably be subjected to more housing
forecasts for 2016 than ads for Chia Pets.
Here is the version provided by Frank Nothaft, senior vice president and
chief economist at CoreLogic.
Nothaft presumes, like most in the field, that the Federal Reserve will
raise short term rates and predicts that increase will be about one percentage
point, achieved gradually, by the end of next year. Homeowners with adjustable rate mortgages or
home equity loans can expect to see their payments rise as will people who take
on new fixed rate mortgages. The latter
will probably rise by about a half-point which will put the 30-year fixed rate
mortgage around 4.5 percent by the end of 2016.
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