If you’re thinking of buying a home, then I personally think that this is the best time to do so as this is still a buyers’ market. The low prices and low mortgage rates are here to remain for some more time. Those who wanted to refinance their home for quite sometime now, can also go for it now as the rates are quite low now.  Some of the housing and mortgage trends you can expect to see in the first quarter of 2012 are listed below:

1. Property prices begin to become stable: The property prices have bottomed out in most of the areas. So, it is expected that henceforth, the property prices will begin to become stable. Many housing experts are also of the opinion that there’s not much room for prices to drop down further. So, this can be a great time to buy your dream home.
2. Refinance may increase due to new HARP: Underwater borrowers have always remained tensed and have anxiously awaited for the day when they will be able to benefit from low mortgage rates. They won’t have to wait much longer. The New Home Affordable Refinance Program or HARP 2.0 will allow borrowers to refinance and get a low mortgage rate irrespective of how much underwater they are.
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