Rising Mortgage Rates Prompt Downward Revision to Home Price Forecasts

Rising Mortgage Rates Prompt Downward Revision to Home Price Forecasts
A home is offered for sale in Chicago, on Jan. 20, 2022. Scott Olson/Getty Images
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

A sharp run-up in mortgage rates has prompted speculation about possible cooling in house prices in the red-hot U.S. market, with real estate research firm Zillow lowering its home price forecast for 2023 by 1.6 percentage points.

Home prices have been on a tear amid broader inflationary pressures in the U.S. economy, with the most recent S&P Corelogic Case-Shiller Index showing a 19.2 percent year-over-year home price gain in January, the fourth-largest reading in the 35-year history of the data series.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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