Tag Archives: home sales

Bah humbug! Mortgage rates fall, but holidays curtail buyer demand

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It’s a slow time of year for homebuying, so it’s not surprising to Mortgage Bankers Association Chief Economist Mike Fratantoni that purchase applications didn’t jump last week. Continue reading →

Improved mortgage rate outlook could bode well for home sales

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Fannie Mae economists are not quite as gloomy about the 2023 home sales outlook as mortgage rates retreat from 2022 highs, with more room to ease. Continue reading →

A sales uptick in 2023? Zillow’s senior economist thinks it’s likely

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During a Connect Now session on Thursday, Zillow Senior Economist Dr. Orphe Divounguy predicted affordability will “stabilize” in 2023, setting the stage for an increase in home sales. Continue reading →

Fannie Mae economists see home sales bottoming next year

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Sales expected to drop to lowest level since 2008, and the growing lock-in effect — the financial disincentive to sell — “will remain in a way that has not occurred in over 40 years,” economists say. Continue reading →

NAR chief economist predicts ‘strong rebound’ in 2024

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Lawrence Yun said home prices will rise 1 percent and sales will dip 7 percent next year before recovering in 2024, in contrast to a Fannie Mae forecast last month that predicted falling prices in 2023. Continue reading →

Mortgage giants Fannie and Freddie battened down the hatches in Q3

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Fannie and Freddie remain profitable but are setting aside pots of money to cover future losses that could result from falling home prices. Continue reading →

Mortgage demand hits lowest level in 25 years as rates keep rising

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With a Fed meeting looming next week, rates on 30-year fixed-rate mortgages have surged well past the 7 percent threshold, a Mortgage Bankers Association survey released Wednesday shows. Continue reading →

For the first time, Fannie Mae now expects home prices to fall next year

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Economists at Fannie Mae project national home prices to decline by 1.5 percent and home sales by 21 percent in 2023 as Fed continues inflation fight. Continue reading →

More homebuyers think prices will go down in the next year than up

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Survey shows homebuyer sentiment falling for the seventh month in a row as high home prices and mortgage rates weigh on affordability, according to Fannie Mae’s latest National Housing Survey. Continue reading →