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Follow on Google News | Peering Into The Future Of Housing: Predications for 2017By: First Weber WalletHub recently announced its financial predictions for 2017, forecasting several economic to-bes in the coming year. Many have implications for housing, including: Two rate hikes WalletHub is seeing double in 2017, pegging the Federal Reserve to raise the key rate twice, a quarter point each, to bring the target rate to 1.00-1.25 percent. Interest rates, including for mortgages, will follow suit. (Case in point: credit card interest rates went up 24 basis points in the beginning of 2016, after the Fed raised the key rate 25 basis points in December 2015.) But higher home sales WalletHub forecasts existing home sales to hit 6 million next year, fueled by, wait for it, rising rates. "If interest rates rise slowly, we may see a nice bump in home sales and mortgage availability as buyers see low interest rates slowly fading and banks have higher rates to buffer against risk," Dr. Robert Eyler, director of the Center for Regional Economic Analysis at Sonoma State University, told WalletHub. WalletHub's estimate is more optimistic than the 5.52 million offered by the National Association of REALTORS® (NAR). More time for the CFPB WalletHub senses the Consumer Financial Protection Bureau (CFPB), which was ruled unconstitutional by a federal appeals court this fall, won't get the boot, even with the "You're fired" administration taking office. "(The CFPB's) good work will be undercut by some politicians, even further than it already has been," Jeffrey Frankel, professor at the Belfer Center for Science and International Affairs at Harvard University, told WalletHub. "I hope and guess that it will not be abolished outright." And for credit scores to improve WalletHub has a sunny outlook for credit scores, anticipating the average score to rise to 675 from 668 next year. The reason? Millions of homeowners will see foreclosures and short sales, black marks from the crash, drop off their credit reports, helping their case for a new mortgage. The See Team is the premiere real estate team in the greater Madison and Middleton Wisconsin area. We have over 60 years of combined experience in real estate, and we know the towns where you want to buy a new home or sell your home: Madison, Middleton, Verona, Sun Prairie, Waunakee, Fitchburg, Spring Green, Oregon, or any other place in South Central Wisconsin. If you're relocating to the Madison - Middleton Wisconsin area, we'll tell you about our neighborhoods, schools and best places to live. We've lived here all our lives and raise our families here - we'll share with you all we know and make looking for your new home in Dane county a pleasure. If you're looking for the perfect house, home, condo, town home or land for sale in the Madison / Middleton real estate area, we're your team. We also help clients locate commercial property to rent or own. SEE the difference. http://www.seemadisonrealty.com Relocating to Madison - Middleton, Dane County: http://www.seemadisonrealty.com/ End
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