Tag Archives: Housing Market Forecast

As the average 30-year fixed mortgage rate nears 8%, new commentary from First American Chief Economist Mark Fleming details the predictions of where mortgage rates will end up throughout the remainder of the year.

With the housing market still in recovery from the recession, homeownership is not a commodity that everyone can afford. In fact, it is a luxury. Forbes writer, Erin Carlyle pointed out a housing forecast titled "What to Expect in the Second Half of 2015" that the homeownership rate in 2005 was 69.1 percent, while today, it’s 63.7 percent, the lowest level the nation has seen since 1993. The forecast highlights that sellers are in an ideal market as the demand for housing is back, but for buyers, home prices are not very favorable and continue to rise.