Winter Haven mortgage borrowers and others looking for Florida mortgage rate information are wondering what the 2010 housing market may look like, and the analysts are already making predictions.
Of course, there are widely varying assumptions as to what will happen, including:
- Home prices will fall in 2010
- Home prices will rise in 2010
- Mortgage rates will rise in 2010
- Mortgage rates will rise by a lot in 2010
As one can see, it’s clear that the professionals have no more of a clear picture into the future than anyone else. An expert can make an educated guess, but it’s a guess nonetheless.
This past year, Wall Streeters anticipated a 25% drop in home prices. 12 months later, we know prices didn’t fall. Wall Street also predicted higher mortgage rates for 2009. That prediction was fulfilled.
There’s a good deal of commentary around the country’s TV networks concerning what’s coming in 2010. As you watch this, remember that hindsight is often more accurate than foresight.
For now, we know that mortgage rates are still very low, qualified buyers are still benefiting from tax credits, and there’s a lot of good “deals” in housing. Make the most of what’s out there today because it will take 12 months for us to look back and know which predictions were right and which were wrong.
Until then, predictions are just opinions and guesses.
I hope you found this post useful! As always, if you or anyone you know is in need of a local Florida mortgage loan originator, I’m your guy. Call me at 888-859-7418 or apply online for your Florida mortgage. We’ll keep you posted and let you know when it’s time to pull the trigger!
No related posts.
Que sera sera for the housing market. That’s my word for it.