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2021 Housing and Economic Update
Every year Matthew Gardner, Windermere’s Chief Economic, provides his forecast for the coming year. As always, he includes a variety of topics that relate to the national economy, housing trends, mortgage interest rates and home price appreciation. This year he also addresses the impact the 2020 pandemic had on the economy and housing and what we may expect to see in 2021. It will be fun revisit this in 6-12 months and see how Matthew’s thoughts compare with what happens as we move through the year.
How Long Will Mortgage Rates Stay this Low?
This week Matthew Gardner, Windermere Real Estate’s Chief Economist, discusses current mortgage interest rates. Interest rates are currently right around 3% and mortgage applications, driven by those historically low rates, are up 25% over the same period last year. It’s amazing to look back to the early 1980s when mortgage interest rates were in the high teens. But, how long will interest rates stay this low and what impact are these interest rates having on home prices?