Find out what happens to rates in 2017 in this week’s Markets in a Minute!

For the Week Ending January 6, 2017 Despite the worst start to a year ever, U.S. stocks posted healthy gains in all three major indexes in 2016. Strong stock markets can pressure mortgage rates. Markets forecast the Fed will raise policy rates twice in 2017. However, the Fed expects to increase policy rates 3 times. Either way, looks like rates will rise. Minutes released from last month’s Fed meeting show members are uncertain about how the Trump administration policies will affect economic growth. Freddie Mac released information showing that more than 80% of the top 100 housing markets improved in 2016. The trend is expected to continue in 2017. Home prices nationwide rose 7.1% year-over-year in November, according to CoreLogic. Prices are forecast to rise 4.7% from November 2016 to November 2017. Smart-home tech continues to become mainstream, with 72% of households having some kind of smart product. Voice control is gaining popularity as well.     My goal for 2017 is to accomplish the goals of 2016, which I should have done in 2015 because I made a resolution in 2014 and planned them out in 2013. Happy New Year. Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time. Sincerely, Barry Botwin Waterstone Mortgage Senior Mortgage Advisor NMLS # 216724 (407) 645-6315

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