Freddie Mac released its U.S. Economic and Housing Market Outlook for November. Let’s see what 2015 has in store for us!
1. Mortgage Rates: Interest rates will likely be on the rise next year, up to 5 percent by the end of the year.
2- Home Prices: After a slowing in 2014 from 2013, it is expected that appreciation will drop further to an average of 3 percent in 2015.
3- Housing Starts: New home building is expected to rise by 20% from this year.
4- Single family loans: Mortgage loans for single family homes will likely drop by 8%, attributed to slowing of refinancing.
5- Multi-family loans: Loans for multi-family properties are expected to rise 14% in 2015.
Read the article for more information at: Freddie Mac Real estate predictions for 2015.