News and Predictions – home sales, housing prices, and mortgage rates

The numbers look promising:

• 2015 Predictions: Dr. John Tuccillo, Florida Realtors Chief Economist – Florida home sales to increase nearly 10% & values by 4.5 to 5%.
• NAR Chief Economist Lawrence Yun predicts rising home prices of 4% in ‘15 and in ‘16 with sale increases of 5.3 & 5.4 million in both 2015 & 2016 – up from 4.9 in 2014. Yun also envisions slow interest rate increases of 5% in ‘15 & nearing 6% in ‘16.

• Mortgage Rates Still Near Yearly Lows – Freddie Mac release 1/29/15: 3.66% 30-year fixed, and 2.98% 15-year fixed.

Paul Langrock – Realtor Extraordinaire