2011 Housing Predictions Like Watching a Rocky Movie
2011 Housing Predictions Like Watching a Rocky Movie
2011 Housing Predictions Like Watching a Rocky Movie
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December 30, 2010 (Chris Moore)
boxing-gloves-image
One of the great past times in America is reading the predictions for the upcoming year. This year is no exception, especially in the housing and mortgage market. Watching the economy taking a beating like Rocky Balboa has been more than many Americans can bear, but just like in the movie, the contender may be beaten and bloodied…but he’s still standing at the end of the 14th round. So let’s take a look at the contenders in our Heavyweight Housing Prediction Bout…

In this corner…TrimTabs’ research chief Madeline Schnapp’s prediction strikes an ominous note, “The housing depression is unlikely to end before 2013.”

Her one, two punch prediction is based on the following facts:

– As of October (the latest month for which data is available), 7.04 million households were not current on their current mortgages, up 1% in the past two months.
– 25% of mortgage holders or 6.2 million are under water, meaning they owe more on their house than it’s worth.
– Housing prices are at risk of declining another 20%, putting more homeowners under water and more into foreclosure.
– Recent documentation flaws are keeping foreclosures off the market, but foreclosures currently account for 25% to 40% of all housing sales. Without a foreclosure inventory, sales will continue to decline, taking housing prices with them.
– The unsold housing inventory, visible and shadow (foreclosed or seized homes held by banks that have not yet been put on the market) stands at 6.2 million units or a 1.5 years’ supply.
– A recent backup in mortgage rates to 4.83% from 4.17%.
– Between 2003 and 2007, 40% of all new jobs were in some way related to housing.

And in the other corner…the bloodied, beaten, and bailed out Fannie Mae. In the December Economics and Mortgage Market Analysis, Fannie predicts new home sales and construction will bounce back next year, with nearly 20 percent gains projected as part of a broader recovery of the housing market and the economy in general.

To support its claim, Fannie presents the following facts:

– Stronger-than-expected economic growth
– Increased consumer and investor spending
– A rising GDP
– The stimulus effects of recently enacted tax breaks

“Given these recent positive developments, we believe that economic growth is poised to kick into higher gear, with an above-par performance lurking just around the corner—by the second quarter of 2011,” the report reads. “For all of 2011, we expect growth of 3.4 percent, compared with a projected 2.9 percent in the previous forecast.”

The report also says that while foreclosures and rising mortgage interest rates will present challenges for the housing market, stronger economic growth and an improved labor market should be enough to offset them.

So who’s right? Neither? Both? No one knows for sure. Remember, at the beginning of the year, analysts were predicting mortgage interest rates close to six percent by the end of this year and yet they still hover just below five percent.

The reality is anything could happen…which should make for an interesting year. See ya on December 31st…2011.

Tags: housing market, mortgage loan market, predictions, housing prediction, mortgage interest rates, foreclosures, economic growth, underwater mortgages, housing prices

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Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
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See today's mortgage rates. Shop, compare and save.

December 30, 2010 (Chris Moore)
boxing-gloves-image
One of the great past times in America is reading the predictions for the upcoming year. This year is no exception, especially in the housing and mortgage market. Watching the economy taking a beating like Rocky Balboa has been more than many Americans can bear, but just like in the movie, the contender may be beaten and bloodied…but he’s still standing at the end of the 14th round. So let’s take a look at the contenders in our Heavyweight Housing Prediction Bout…

In this corner…TrimTabs’ research chief Madeline Schnapp’s prediction strikes an ominous note, “The housing depression is unlikely to end before 2013.”

Her one, two punch prediction is based on the following facts:

– As of October (the latest month for which data is available), 7.04 million households were not current on their current mortgages, up 1% in the past two months.
– 25% of mortgage holders or 6.2 million are under water, meaning they owe more on their house than it’s worth.
– Housing prices are at risk of declining another 20%, putting more homeowners under water and more into foreclosure.
– Recent documentation flaws are keeping foreclosures off the market, but foreclosures currently account for 25% to 40% of all housing sales. Without a foreclosure inventory, sales will continue to decline, taking housing prices with them.
– The unsold housing inventory, visible and shadow (foreclosed or seized homes held by banks that have not yet been put on the market) stands at 6.2 million units or a 1.5 years’ supply.
– A recent backup in mortgage rates to 4.83% from 4.17%.
– Between 2003 and 2007, 40% of all new jobs were in some way related to housing.

And in the other corner…the bloodied, beaten, and bailed out Fannie Mae. In the December Economics and Mortgage Market Analysis, Fannie predicts new home sales and construction will bounce back next year, with nearly 20 percent gains projected as part of a broader recovery of the housing market and the economy in general.

To support its claim, Fannie presents the following facts:

– Stronger-than-expected economic growth
– Increased consumer and investor spending
– A rising GDP
– The stimulus effects of recently enacted tax breaks

“Given these recent positive developments, we believe that economic growth is poised to kick into higher gear, with an above-par performance lurking just around the corner—by the second quarter of 2011,” the report reads. “For all of 2011, we expect growth of 3.4 percent, compared with a projected 2.9 percent in the previous forecast.”

The report also says that while foreclosures and rising mortgage interest rates will present challenges for the housing market, stronger economic growth and an improved labor market should be enough to offset them.

So who’s right? Neither? Both? No one knows for sure. Remember, at the beginning of the year, analysts were predicting mortgage interest rates close to six percent by the end of this year and yet they still hover just below five percent.

The reality is anything could happen…which should make for an interesting year. See ya on December 31st…2011.

Tags: housing market, mortgage loan market, predictions, housing prediction, mortgage interest rates, foreclosures, economic growth, underwater mortgages, housing prices

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

December 30, 2010 (Chris Moore)
boxing-gloves-image
One of the great past times in America is reading the predictions for the upcoming year. This year is no exception, especially in the housing and mortgage market. Watching the economy taking a beating like Rocky Balboa has been more than many Americans can bear, but just like in the movie, the contender may be beaten and bloodied…but he’s still standing at the end of the 14th round. So let’s take a look at the contenders in our Heavyweight Housing Prediction Bout…

In this corner…TrimTabs’ research chief Madeline Schnapp’s prediction strikes an ominous note, “The housing depression is unlikely to end before 2013.”

Her one, two punch prediction is based on the following facts:

– As of October (the latest month for which data is available), 7.04 million households were not current on their current mortgages, up 1% in the past two months.
– 25% of mortgage holders or 6.2 million are under water, meaning they owe more on their house than it’s worth.
– Housing prices are at risk of declining another 20%, putting more homeowners under water and more into foreclosure.
– Recent documentation flaws are keeping foreclosures off the market, but foreclosures currently account for 25% to 40% of all housing sales. Without a foreclosure inventory, sales will continue to decline, taking housing prices with them.
– The unsold housing inventory, visible and shadow (foreclosed or seized homes held by banks that have not yet been put on the market) stands at 6.2 million units or a 1.5 years’ supply.
– A recent backup in mortgage rates to 4.83% from 4.17%.
– Between 2003 and 2007, 40% of all new jobs were in some way related to housing.

And in the other corner…the bloodied, beaten, and bailed out Fannie Mae. In the December Economics and Mortgage Market Analysis, Fannie predicts new home sales and construction will bounce back next year, with nearly 20 percent gains projected as part of a broader recovery of the housing market and the economy in general.

To support its claim, Fannie presents the following facts:

– Stronger-than-expected economic growth
– Increased consumer and investor spending
– A rising GDP
– The stimulus effects of recently enacted tax breaks

“Given these recent positive developments, we believe that economic growth is poised to kick into higher gear, with an above-par performance lurking just around the corner—by the second quarter of 2011,” the report reads. “For all of 2011, we expect growth of 3.4 percent, compared with a projected 2.9 percent in the previous forecast.”

The report also says that while foreclosures and rising mortgage interest rates will present challenges for the housing market, stronger economic growth and an improved labor market should be enough to offset them.

So who’s right? Neither? Both? No one knows for sure. Remember, at the beginning of the year, analysts were predicting mortgage interest rates close to six percent by the end of this year and yet they still hover just below five percent.

The reality is anything could happen…which should make for an interesting year. See ya on December 31st…2011.

Tags: housing market, mortgage loan market, predictions, housing prediction, mortgage interest rates, foreclosures, economic growth, underwater mortgages, housing prices

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.