Atlanta Mortgage and Real Estate 2018 Outlook
The Atlanta mortgage and real estate markets will be impacted by various trends in 2018.
For instance, the era of stable home mortgage interest rates may be coming to a close. While home mortgage interest rates have remained relatively stable during the past several years, the Federal Reserve expects at least three rate increases in 2018 and 2019. Fannie Mae predicts a small overall increase in mortgage rates during 2018, with 30 years home mortgage rates expected to average 4.4 percent in the Atlanta area.
Home values in the Atlanta area are expected to continue rising in 2018, but at a slightly lower rate than during the past several years. Home inventory, however, is expected to remain tight throughout the state of Georgia and around the country in 2018, helping fuel increases in home values.
A new tax law creating a $10,000 deduction limit on a combination of state and local property, sales, and income tax could also impact the Atlanta real estate market in the coming year. Another new tax reform reduces the mortgage interest tax deduction to $750,000 on primary residences.
Buying or refinancing a home in metro Atlanta in 2018? Contact Peachtree Mortgage Services, Inc. by email at peachmtg@bellsouth.net or by phone at 770.481.0052.
* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.