Stephanie TaylorPresident             A swift rise in interest rates has some buyers wondering how the higher borrowing costs will affect the housing market.             Although Freddie Mac reported that interest rates in April surpassed 5% for the first time since 2011, the mortgage giant also said it expects the “single-family purchase market will remain solid in 2022 despite increases in mortgage rates.” The organization’s April 18 Quarterly Forecast report predicts that although demand and prices will moderate somewhat, there will continue to be substantial housing demand. Freddie Mac also expects the 30-year fixed-rate mortgage to average 4.6% in 2022 and 5% in 2023.  “While the sharp increase in mortgage rates will lead to a precipitous drop in refinance originations in …

Stephanie Taylor2022 President, Northern Wasatch Association of Realtors Utah’s strong job market along with a large population of young adults entering their prime home-buying years will provide robust demand for Utah housing over the next decade. That’s according to a new regional economic report commissioned by the Utah Association of Realtors and written by Dejan Eskic, senior research fellow at the Kem C. Gardner Policy Institute. The study looks at housing market conditions in six states: Arizona, Colorado, Nevada, New Mexico, Utah and Wyoming. The report studied various housing market indicators, comparing Utah’s performance to other states. Here’s a look at how Utah’s housing market stacks up. Employment One important indicator of real estate demand is an area’s job market …