Where Are Rates Heading in Omaha This Year?

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Hello, and welcome back to the best place to get local updates on the lending world! Today, The Mortgage Doctor will share his mortgage predictions for 2015! 

In 2014, the housing industry was on fire! Will the great trends continue? I think they will - in fact, I predict home values will continue to rise in the coming months! According to the National Association of Realtors, home prices increased an average of 11% in 2014! Since they increased significantly throughout the last year, I expect values to continue to rise throughout 2015!

What does all of this mean for you? 

For one, it's a pretty great time to buy or sell. Housing inventory may fall because of great market conditions in the Omaha area. If you want to find the right home while conditions are great, you need to work with a quality Realtor! They have an awareness of the market and will keep you informed so you can make the right decisions when buying or selling.

We're also predicting that home refinancing will slow down. A lot of people have taken advantage of these low rates already. Additionally, baby boomers won't be buying new houses this year - they'll be staying in their current ones, and have likely already locked in a low rate. If you haven't yet, give The Mortgage Doctor a call and he'll make it worth your time! 

Credit standards are loosening right now, which means many more people are eligible to purchase a home. However, this doesn't mean it's easy to do so. Lenders will still look at your debt-to-income ratio and credit score. Also, non-mortgage-related debt, such as student loans, are still a huge issue for many potential buyers out there.

Since we only briefly covered an array of topics, we encourage you to give us a call or shoot us an email if you have any questions. We would love to be your go-to mortgage resource in the Omaha area!

Source: http://www.housingwire.com/blogs/1-rewired/post/32554-guardian-mortgage-4-bold-predictions-for-housing By Marcus McCue

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