The affordability of home ownership is affected by many factors including housing prices, interest rates, short term tax incentives and long term tax deductions. Besides housing prices, the single most important factor impacting the out-of-pocket monthly cost of home ownership is interest rates. Where are interest rates headed in 2010?
Here is what some experts are predicting:
HSH & Associates: rates will nudge closer to 6% than 5%
Moody's Economy.com: 6 percent sounds about right
Washington Post: 6 percent by the end of 2010
Barry Habib of Mortgage Market Guide: It could be as high as 6.5%
Morgan Stanley: 7.5 percent to 8 percent
Tuesday, February 9, 2010
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