Tag Archives: Doug Duncan

After three weeks of consecutive declines, mortgage application volume took a sudden turn upward this week, despite mortgage rates nearing the 7% mark.

While unemployment and mortgage rates have both dropped recently, unsustainably high consumer spending and inflationary pressures are expected to push the economy into a recession during Q2 of 2023.

“January’s HPSI results showed that consumer sentiment toward the housing market remains subdued by historical standards,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

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

Despite a minuscule rise in home-purchase sentiment for the month of November, Fannie Mae’s survey finds near-record pessimism and predicts slow sales heading into 2023.

With inflation and mortgage rates rising to challenge the industry, MReport speaks to a cross-section of mortgage industry executives about why now is the time to rise to the occasion with innovation and efficiency.

"The HPSI reached an all-time survey low this month, in line with expectations that the housing market will continue to cool in the months ahead," said Doug Duncan, Fannie Mae SVP and Chief Economist.

“Surveyed lenders cited personnel expenses as the primary factors driving up loan origination costs over the past two years,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

“Year-over-year home price growth decelerated in the third quarter, as the sharp rise in mortgage rates—and declining housing affordability—appears to have weighed further on demand,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.