South Tampa Real Estate Report

South Tampa Real Estate Market Report | 11/08/20 - 11/15/20

As we approach the end of the year, predictions for the 2021 housing market begin to emerge. The Mortgage Bankers Association is predicting record purchase volume for 2021. The rebounding economy is also likely to mean higher mortgage rates, with the MBA forecasting 2.9% by the end of 2020, rising to 3.3% by Q4 2021. MBA is forecasting a rise in purchase originations to $1.59 trillion but sees refinances decreasing to $971 billion. We'll see if MBA's predictions hold true. I'd love to go back and look at the predictions for 2020...I'm fairly certain nobody got 2020 right! Stay safe and have a great week!!

Michael Palermo

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