Mortgage Industry Highlights and Key Takeaways from January 2017
As we move into February, it’s been a busy period for mortgage-related news. Here are some recent highlights:
Mortgage rates fell for the third straight week, following their rapid rise after the November presidential election.
Key takeaway: many investors still predict higher mortgage rates in 2017.
U.S. homeowners age 62 and up experienced a $152 billion increase in home equity during the third quarter of 2016, bringing their total home equity value to $6.1 trillion..
Key takeaway: the increase in home equity was caused mostly by a 2.3% growth in senior home values.
In its list of the top 10 housing markets for 2017, Zillow ranked Nashville as number one, edging out Seattle, Provo, Orlando and Salt Lake City.
Key takeaway: America’s hottest housing markets are mostly mid-sized cities with strong job markets, located away from the coasts (with the exception of Seattle).
This article highlights a range of changes and opportunities facing homebuyers in 2017.
Key takeaway: if you’re planning on buying a home or refinancing, we suggest reading this article to learn about changes that could impact you.
Janet Yellen says Fed will hike rates “a few times” a year
Federal Reserve Chair Janet Yellen says she expects the Federal Reserve to raise its benchmark interest rate several times a year through 2019.
Key takeaway: keep an eye on interest rates whether you’re considering purchasing a home, plan to make investments, or want to save money.
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