The US mortgage market will continue to see low interest rates throughout 2012, according to experts.
Although the Federal Reserve has pledged to keep rates low throughout 2012 and 2013, experts said high unemployment levels, as well as declining home prices, may provide little incentive for stressed borrowers to surge back into the housing market.
“I think there may be a little bit of an uptick in units sold,” said Doug Duncan, Vice President and Chief Economist at Fannie Mae.
“But home prices will probably be down again, so the total dollars spent on purchases is likely to be pretty close (to last year).”
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