To avoid a debt default, lawmakers - who are currently gridlocked - must decide the path forward: raising the debt ceiling, hiking taxes, slashing government spending or a combination. Home values, which Zillow currently predicts to rise 6.5% by the end of 2024, would end up being 5% lower if a default were to happen.Between July 2023 and December 2024, the cumulative decline in home sales would be over 700,000, Tucker said. Zillow estimated housing market activity would also fall sharply, with existing home sales plummeting 23% at its worst.As a result of higher rates, the mortgage payment on a typical home could skyrocket upwards of 22% by September.Average mortgage rates have not topped 8% in more than two decades, data from the St.
A debt default, while unlikely, could trigger 30-year mortgage rates - which are currently hovering above 6% - to jump to as high as 8.4% in September before falling below 7% toward the start of 2024, according to Zillow.Hawaii Alaska Florida South Carolina Georgia Alabama North Carolina Tennessee RI Rhode Island CT Connecticut MA Massachusetts Maine NH New Hampshire VT Vermont New York NJ New Jersey DE Delaware MD Maryland West Virginia Ohio Michigan Arizona Nevada Utah Colorado New Mexico South Dakota Iowa Indiana Illinois Minnesota Wisconsin Missouri Louisiana Virginia DC Washington DC Idaho California North Dakota Washington Oregon Montana Wyoming Nebraska Kansas Oklahoma Pennsylvania Kentucky Mississippi Arkansas Texas View Rates What the research says
0 kommentar(er)
