GSEs

Freddie Mac reports the fixed-rate mortgage has fallen to its lowest level since mid-September, as buyers begin to return to the market ahead of the spring homebuying season.

"In our view, the balance still suggests a modest recession, particularly if the Federal Reserve maintains its focus on labor market tightness,” said Doug Duncan, SVP and Chief Economist for Fannie Mae.

Fannie Mae’s Jake Williamson and Appraisal Institute President Craig Steinley share their perspective with MReport about how the industry is working to improve the appraisal process in 2023.

Fannie Mae’s latest Home Price Index has found that the tension between the reduced supply of homes available for sale and lower mortgage demand will impact home prices in 2023.

Fannie Mae’s latest Home Purchase Sentiment Index reverses course, picking up from the previous month’s lows.

Freddie Mac reports that 2023 has begun with a second consecutive week of mortgage rate hikes, with app activity sinking to a quarter-century low as high rates continue to weaken the housing market.

Mortgage rates trended upward to close out the year, as Freddie Mac’s Chief Economist forecasts the housing will remain weak throughout the winter.

Freddie Mac reports the fixed-rate mortgage sliding for the sixth straight week, with the downward trend in rates resulting in a rise in refis, offsetting a week-over-week decrease in purchase activity.

Fannie Mae and Freddie Mac will now need Federal Housing Finance Agency approval—and possibly public comment—before offering new products, in order to ensure safety and soundness standards.

Fannie Mae’s Economic & Strategic Research Group now forecasts recessionary conditions taking a hold of the market during Q1 2023, even after forecasting better fourth-quarter numbers due to strong GDP and personal consumption figures.