Tag Archives: Douglas G. Duncan

As fixed-rate mortgages continue to edge toward 7%, the MBA reports refinance volume has dropped off nearly 90% from last year’s totals, as both refinancing and home purchase apps declined and fell further behind last year’s record levels.

Credit availability fell to its lowest level since March 2013 in September, as reports show credit tightening for the seventh consecutive month.

After falling back toward the 5%-mark, Freddie Mac reports that mortgage rates rose more than 40-basis points this week, as continued slowdown in economic growth weighs on the housing market.

A week after bottoming out to a four-month-low, mortgage rates jumped back upward this week, climbing to 5.22% despite continued correction in the housing space.

HUD and the Census Bureau report that single‐family housing starts in June were 8.1% below May’s figure, as builder confidence continues to fall.

Hitting the highest rate recorded in 15 years, housing completions rose in May, a sign that construction bottlenecks may be easing.

The price of new home sales experienced a near 17% decline in April, hitting its lowest level in two years.

The rise in mortgage rates and inflationary concerns are impacting new residential construction, as borrower costs continue to force many prospective buyers to the sidelines.

Douglas G. Duncan, SVP and Chief Economist for Fannie Mae, discusses what we should expect out of the housing market in 2022.

Continued shortages in building materials, labor, and land contributed to a monthly decline in October new housing starts.