In December, reflecting projections that President-elect Trump’s pro-growth stance will hike up interest rates, Forbes documented a half point rise in mortgage rates from late October, and predicted a steady spike throughout 2017. Meanwhile, notes Marcus Hiles, Jonathon Smoke, Chief Economist for Realtor.com, isn’t expecting election results to have a direct impact on housing or the economy, but he does foresee some young hopeful homeowners facing difficulty in the coming year, “With more than 95 percent of first-time home buyers dependent on financing their home purchase, and a majority of first-time buyers reporting one or more financial challenges, the uptick [in interest rates] we’ve already seen may price some first-timers out of the market.” Senior vice president of ATTOM Data Solutions, Daren Blomquist, shares this sentiment, “While buying is currently more affordable than renting in major U.S. markets, that equation could change quickly if mortgage rates keep rising.”

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