GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’ve got the option to read more about oureditorial guidelinesand our products and servicesreview methodology.
And dont forget Nevada, as it has the countrys highest housing shortages.
We are all wondering if the election year can provide us with solace.
However, we could potentially get lower mortgage rates too.
This could lead to a decrease in supply, but possibly alsolower mortgage rates.
Currently, mortgage rates fall between 6% and 7% depending on the jot down of loan.
More buyers might be able to afford homes if the interest rates were to fall.
Miller agreed that we could see lower interest rates with Republicans at the helm in the Senate.
So, a Trump presidency and Republican Senate means well see lower home prices.
Miller added that the interest rate decision also depends on the Federal Reserve.
For instance, one strategy might be tax incentives or deductions for builders and suppliers, he explained.
Ronan said this could increase the amount of homes, solving the issue of low supply.
For example, there may be incentives to individual states to encourage builders to increase production.
As Collins said, a Republican Senate favors less regulation.
This could actually mean cuts tofederal housing programs.
The act significantly increased the standard deduction available to filers looking to reduce their taxable income.
More From GOBankingRates
Share This Article:
