The Federal Reserve lowered interest rate by a quarter basis points in its. NY -based Assurant AIZ provides risk.
If one assumes that the housing market is efficient, the expected change in housing prices (relative to interest rates) can be computed mathematically. The calculation in the sidebox shows that a 1 percentage point change in interest rates would theoretically affect home prices by about 10% (given 2005 rates on fixed-rate mortgages).
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The result is a housing market where prices are detached from household income and interest rates – rather than income – are a main driver of economic activity. Mortgage rates were in a long slow decline prior to the 2007 – 2008 housing market crash which provoked even lower rates.
If interest rates stay flat and as they can’t really go any lower you would get a moderate decline in prices as the market works through the price increase from the rush to buy before the expectation of interest rates going up then slow growth thereafter as house prices grow in line with incomes.
Year-over-year housing prices soared by double digits throughout Northwest. As long as the demand is there and interest.
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But low rates may only be a temporary and artificial boost to the housing market. As recession concerns loom, interest rates have fallen to a level that’s now stimulative for the U.S. housing.
Slow growth in the eurozone has seen the European Central Bank cut rates and inject more money through quantitative easing into the markets. The US Federal Reserve earlier this month also cut interest.
2. From what we can see, the real estate market is not going to crash. With such fast-rising mortgage interest rates, some folks are wondering if the housing market could collapse again. Well, it’s impossible to know for sure, but a number of factors indicate a housing crash is not in the foreseeable future and the economy is still strong.