It's been a tumultuous 2016 - both financially and politically. The year may have left some people wondering, what's next? And, how will it affect me?

Lacking a crystal ball, we asked a few economic experts what they think 2017 may hold in store for Americans' personal finances. Here's their take on what to expect in the year ahead:

Q. What's the job market going to look like?
A. "The job market in 2017 will be about as good as it gets," said Mark Zandi, chief economist at Moody's Analytics. "There are currently a record number of job openings and layoffs are at record lows."

Q. Will gas prices go up?
A. 2017 will likely be another cheap year to fuel your car, but not quite as good as 2016, several energy experts said.
Q. What should I expect from interest rates?
A. The Federal Reserve said it may raise rates up to three more times in 2017. But that doesn't spell disaster for borrowing in the year ahead.

House shopping? That's a mixed bag - mortgage rates were already volatile before the rate hike and that's likely to continue. McBride said that even with hikes, mortgage rates will likely stay closer to 4 percent than 5 percent in 2017. That's still low by historical standards.
Q. And what about my taxes, will they really change?
A. There's potential for some major changes to the tax system next year under president-elect Donald Trump's proposals.
Article from Washington Post - for full article click here 
Posted by Abuzar Waleed on
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