If you prioritized monthly affordability , buying in 2017 was generally the better move to secure a lower interest rate. If you were focused on selection and were willing to pay a premium in interest for a house that better fit your needs, waiting for the 2018 inventory bump was a viable, albeit more expensive, strategy. AI responses may include mistakes. Learn more
Housing market forecast : Experts weigh in on 2018 real estate
The benchmark 30-year fixed-rate mortgage averaged 3.99% at the end of 2017.
For those who waited, the primary hope was a . Some analysts predicted that more homeowners would list their properties, potentially slowing the rapid price surges seen in previous years.
In 2017, the housing market was defined by , which hovered around 3.9% to 4.0% for most of the year. For many, this presented a "last chance" to lock in lower monthly payments before the Federal Reserve’s planned interest rate hikes took full effect.