With just a few more weeks left of 2019, it’s time to look ahead to 2020. This past year has brought a surprising amount of highs and lows for the real estate market, however, the past few months have steadied out. What should we expect in 2020? More of the same?
In a recent article from Forbes, they spoke to experts in the mortgage, real estate, and housing industries to get their take on what next year might bring. Here’s what they say is in store for the year to come:
Mortgage rates will stay low—or maybe go lower.
Mortgage rates currently sit at 3.75%, according to Freddie Mac’s most recent numbers—nearly a 1% difference from the monthly average a year ago. The drop in rates caused a surge in refinancing over the last few months, and purchase activity ticked up as well.