Home sales now expected to decline by 7.4 percent this year and 9.7 percent in 2023, a dramatic adjustment from March, when Fannie Mae forecast a 4.1 percent decrease in home sales this year and 2.7 percent in 2023. Continue reading
Nearly 4 percent fewer homes sold in March than did the month before, after accounting for seasonal factors. Prices rose by 6 percent, the largest monthly price increase since 2013. Continue reading
High home prices are expected to drive a record $1.72 trillion in purchase mortgage originations in 2022, even though rising mortgage rates could put a dent in sales of existing homes, according to the Mortgage Bankers Association. Continue reading
For the first time, Fannie Mae is forecasting all the way out to 2023, when it expects the economy to enter “mature state of the business cycle,” with the risk of another recession moving into focus. Continue reading
Second straight week of increases in purchase loan applications following rate reversal suggests stronger sales activity in the weeks to come, according to the Mortgage Bankers Association. Continue reading
A strong fall and winter season should mean 2021 will wrap up with nearly 7 million in sales, making it one of the strongest years in history, according to a new MoxiWorks analysis. Continue reading
With the Federal Reserve expected to begin tapering its purchases of mortgage-backed securities as soon as November, market forces are pushing mortgage rates higher. Continue reading
Strong numbers of pending home sales and applications for purchase loans have pushed up sales forecasts through the end of the year. Continue reading
Fannie Mae economists now expect that when the final numbers are in, sales of new and existing homes will grow by 4.7 percent to 6.8 million. Continue reading
In addition to worries about the potential impact of Fed tapering, there’s also uncertainty about the approaching U.S. debt ceiling and the future leadership of the Fed. Continue reading