The 2020 Mortgage Interest Rate Forecast
Written by Home Actions
The CoreLogic Home Price Index for January 2020 shows U.S. home prices increased 4% from a year earlier and are forecasted to increase 5.4% over the next year. The increase in prices for January was a bit higher than for the prior month and was the third consecutive pick up in annual price growth. Since the HPI has increased on a year-over-year basis every month since February 2012, January marked the eighth year of increasing home prices. Since hitting bottom in March 2011, the HPI has gained 63% and is 10% above the peak in prices hit just before the Great Recession. The recent drop in mortgage rates will support further increases in prices this year.
Forecast Prices Nationally
The CoreLogic HPI Forecast indicates that home prices will increase by 5.3% on a year-over-year basis from November 2019 to November 2020. Article sourced and written by Home Actions.
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