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US home prices are heading for a further drop this year even though mortgages are getting cheaper, a housing market expert says

From markets.businessinsider.com

US house prices are set to fall further this year as the Federal Reserve pushes ahead with interest-rate increases, according to real-estate veteran and board member of the Mortgage Bankers Association Jeff Taylor. "I anticipate on a national level, this year, we'll probably see, four to 6% price decrease. And in some markets, you know, you might see seven to nine," Taylor told Insider. The forecast implies a second straight year of home-price declines, after the Fed raised benchmark borrowing costs from near zero to almost 5% over the past 11 months to rein in inflation. Taylor said his call stands despite 30-year ... (full story)

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  • Category: Fundamental Analysis