On Tuesday, June 12, Fannie Mae [1] will release its quarterly Mortgage Lender Sentiment Survey [2]. The survey polls senior executives of Fannie Mae’s lending customers to assess their current activities and market expectations. The findings of this survey help other mortgage and housing professionals to better understand industry trends and assess their own business practices.
The last survey, released on March 15, 2018, showed that mortgage lenders reported a net negative profit margin outlook for the sixth consecutive quarter, matching the all-time low reading from Q4 2016. Those who expected a lower profit margin continued to point to “competition from other lenders” as the primary reason, which set another new survey high for the fifth consecutive quarter, while “market trend changes” were cited as the next biggest reason for the first time in three quarters.
Giving a glimpse [3] of what can be expected from the latest survey, Fannie Mae's Chief Economist, Doug Duncan said, “According to our latest Mortgage Lender Sentiment Survey, which we expect to release on Tuesday, lenders expect mortgage demand to soften in the near term.”
Here's what else is in store in The Week Ahead:
- CoreLogic Loan Performance Insights Report, Tuesday
- Consumer Price Index, Tuesday, 8:30 a.m. EST
- FOMC Announcement, Wednesday, 2 p.m. EST
- MBA Apps, Wednesday, 7 a.m. EST
- Consumer Sentiment Index, Friday, 10 a.m. EST