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  The Monthly Mortgage Bulletin January 2019  
 
Steven M. Sims
Steven M. Sims
Branch Manager - METRO
NMLS # 334513
Mobile: 801 599-9227
FAX 801 757-0518
Send an email Email Visit my Website Website
Utah Mortgage Loan Corporation
 
 
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CoreLogic's 2019 Housing Market Outlook
CoreLogic, a data and technology company, released its housing market predictions for 2019. The company believes that both interest rates and home prices will continue to rise over the course of 2019. Although, home price growth is expected to slow by one percentage point over the next 12 months.
CoreLogic Chief Economist Frank Nothaft says, “We expect long-term yields to rise as well, nudging 30-year fixed mortgage rates up to an average of about 5.25 percent by next December, the highest in a decade.”
CoreLogic predicts higher interest rates will affect the housing market in two ways. Homeowners with lower-rate mortgages are more likely to stay in their homes rather than sell, resulting in fewer new listings. And, the prospect of larger mortgage payments may reduce buyer demand, leading to less pressure on home prices.
 
 
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National Existing-Home Sales Data
Source: National Association of Realtors®
Total existing-home sales: 5.32 million
(up from 5.22 million in the previous month)
Median existing-home price: $257,700
(up from $255,400 in the previous month)
Average number of days on market: 42
(up from 33 in the previous month)
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“Quote
  of the
  Month”
You are never too old to set another goal
or to dream a new dream.”
  – Les Brown
 
 
 
Steven M. Sims | Utah Mortgage Loan Corporation
380 West 200 South - Suite 106 - Salt Lake City, UT 84101
 
Nationwide Mortgage Licensing System & Registry:
Utah Mortgage Loan Corporation, NMLS ID # 149160 (www.nmlsconsumeraccess.org)
This is not a commitment to lend or extend credit. All loans, credit and collateral are subject to approval. Restrictions and conditions may apply. Terms, rates, data, programs, information and conditions are subject to change without notice, and may not be available in all areas.
Utah Mortgage Loan Originator License number 5492569-NMLM NMLS ID:334513
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