Freddie Mac sees brightest housing year in decade

housing

housingBy Jann Swanson | Mortgage News Daily

Freddie Mac predicted in its monthly Outlook 2016 might be the best year for housing in a decade with most sectors, sales, construction, and prices, set to reach new recent highs. They base this on several factors, mortgage rates, employment, household formation, rising home inventories and increasing prices.

Rates so far this year have remained lower than the average for last year and Freddie Mac, while admitting that a rapid increase in rates would mean all bets would be off, remains convinced they will increase gradually and then only in the second half of the year, helping support homebuyer affordability in the face of rising house prices and stagnant income.

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