Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Housing News

Mortgage trends for 2013: changes ahead or more of the same?

Although mortgage trends are difficult to forecast, and so far, there is not a consensus regarding what 2013 has in store.

mortgage trends
Prev1 of 2
Use your ← → (arrow) keys to browse

mortgage trends

Mortgage trends in 2013

Agent Publishing (where I am the managing editor) took a look at its stories in 2012, along with the data, and reported on the five biggest real estate trends to watch for in 2013. The big ones include rising home prices, rising rents, dwindling REO and short sales, and an increase in first-time homebuyers, however, any mortgage trends were left out.

Now, it’s extremely difficult to predict where mortgage rates will go. In the 1980s, interest rates were at about 15-16 percent; pre-housing bubble they decreased to about 7 to 8 percent, and both of those were good housing markets. Also, with the latest news regarding the last-minute dodging of the fiscal cliff, the MID is safe (well, for now…). With all the data pointing upward, what loans will be the most common in 2013? What governmental changes or other factors will affect the products consumers can use?

I sent a survey to several lenders in the Chicagoland area lenders, and so far, predictions for loans that will be most common this year are split between conventional and FHA loans. I found that interesting, especially regarding FHA loans, because FHA-approved buildings seem to be shifting.

Advertisement. Scroll to continue reading.
Written By

Stephanie Sims is the managing editor of Agent Publishing, which currently has online publications in Chicago, Houston and Miami. With expertise in evaluating housing markets, website content and social media strategy, and reporting information agents want to know about, Stephanie can be found at her desk with coffee that got cold or not eating lunch because she’s busy planning editorial assignments and interviews for the Agent Publishing websites.

2 Comments

2 Comments

  1. JoeLoomer

    January 6, 2013 at 10:32 am

    Fed Chair has stated it’s critical to keep the rates down to continue the economic recovery.

    Navy Chief, Navy Pride

  2. Greg Cook

    January 6, 2013 at 11:31 am

    Hi Stephanie, if the Fed follows through on recent statements that they will stop buying mortgage backed securities by the end of 2013, we can expect interest rates to spike and qualifying to get much more stringent. The Fed is buying about $85 billion a month in Treasuries and mortgages, without them the market will change dramatically.
    Of course I could be wrong

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Real Estate Technology

(TECH NEWS) It turns out that Internet of Things, like smart bulbs in homes, are not secure and give up your info - here...

Real Estate Marketing

(MARKETING) Your fancy, self-animating website might be making people violently ill, even if it is insanely beautiful. Sorry...

Real Estate Marketing

(MARKETING) Conduit is a CRM that does more than CRM, it analyzes your networking data to help you see how to improve your relationships.

Real Estate Corporate

(REAL ESTATE) Zillow has long been a data powerhouse, but a lawsuit about a $150M listing offers a look into listings claims.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.