Posted by: Hewitt & Habgood Realty Group | February 26, 2019

Spring Mortgage Rate Outlook

The general consensus in the mortgage industry seems to predict 2019 to be much similar to that of 2018. We may see a rate hike in December 2018, with 2 or 3 more possible hikes throughout the year in 2019. While, currently our rates are at the highest level since 2011. The spirit of these increases are to hedge inflation, but also to build some room to lower rates later should we find ourselves in a recession later on.
The housing market is seeing a shift to a more balanced market favoring our home buyers and lessening the favor towards a sellers’ market. This is great news as inventory levels increase, presenting more opportunities for our buyers to find the perfect home. With many loan programs now offering low or no down payments we are seeing a surge of first time home buyers who thought buying a home would never be possible.
We certainly have a lot to be thankful for. Being in North Texas is one of those! Dallas hiring remains strong and we are currently ranked as the 4th strongest city in the U.S. for technology jobs!

Provided by: Christian Johnson

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