Freddie Mac , The Mortgage Loan Provider
Once Again Steps Out and Predicts a Very Positive
2018 in Real Estate and Mortgage Markets.

If you would like to learn more about the trends in Real Estate and Mortgage Interest Rates,
You have come to the right place

Preston Ware
"20 Years Experience Lending in Florida"

This is what Freddie Mac had to say!!!!!!

Just like 2016,
Freddie Mac is once again painting a very rosy picture for Home Sales and Mortgage Rates.

To see the similarities, please see my previous comments about Freddie Mac's predictions for 2016 where it was considered sort of a "perfect storm" for borrowing.

Here is a video that I did with that page back in 2016 that is somewhat similar to this years predictions:

Was it the best year ever? No, but it was a very steady year. Homes appreciated at moderate rates and interest rates stayed low. Millennials were a little stand offish but started leaving Mom and Dad's house and entered the market.

Now it seems millennial are fueling a component of our optimistic outlook for 2018 according to Freddie Mac. If that is true, please feel free to ask me about my 1% down program which offers the least out of pocket expense. Last year we did a few of these and the average age of our borrowers was 26 to 31.

Pulling from a report from Deputy Leonard Kiefer, "median income reached $59000 in 2016 (nationwide) and we have had 84 months of continued job growth with unemployment at 4.1%."

For me this was the most interesting part of the report. "Part of the reason for a lack of inventory is a slow recovery in new home construction, but single family construction is grinding along. A steady improvement in new home construction will be key to restoring balance to housing markets.

I think this means that customers are not getting the chance to do construction perm on a piece of land but they are buying new homes from builders who finance the construction on their own and just close with the end loan. 

I have construction perm financing on the higher end where they tear down the home and rebuild all over but it is true that on the smaller scale there is less financing in this category.

"Tight supply has contributed to home prices of 6.8% nationally over the last twelve months ending September 2017." 

If you would like to read the article in full, visit the Freddie Mac home page

Where I am in mostly Palm Beach and Broward Counties the supply of homes is tight which is leading to strong appreciation for the customers who are able to find what they like. I would not be surprised if appreciation was above the national average here in Florida.

I would say that my personal outlook is that activity seems to be heating up as it always does the third week of January.

For a forecast on weekly mortgage rates , visit my mortgage interest rate advisory page

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