“Consumers also indicated that they don’t expect these affordability constraints to improve in the near future, with significant majorities thinking that both home prices and mortgage rates will either increase or remain the same over the next year,” said Mark Palim, Fannie Mae’s VP and Deputy Chief Economist.
Read More »Industry Experts Take to Capitol Hill to Debate LLPAs Changes
The House Financial Services Committee hosted a panel featuring Edward J. DeMarco of the Housing Policy Council and NAR President Kenny Parcell discussing loan-level price adjustments used by Fannie Mae and Freddie Mac and their impact on the mortgage marketplace.
Read More »Metro Areas Where Homebuying Is Cheaper Than Renting Dwindling Nationwide
According to a new report from Redfin, while the typical U.S. home costs an estimated 25% more per month to own than rent, homebuying is only more affordable than renting in Detroit, Philadelphia, Cleveland, and Houston.
Read More »Fannie Mae: Recessionary Conditions Still Expected in 2023
“There are select data available to support several alternative views of the path of the economy, though we maintain our view that a modest recession will begin in the second half of 2023,” said Doug Duncan, SVP and Chief Economist at Fannie Mae.
Read More »Mortgage Rates Slide for Second Straight Week
Prospective spring home buyers have responded to a second straight week of falling rates according to Freddie Mac, as they pounce on the nation’s limited housing supply, and have driven app volume upward.
Read More »Consumer Optimism About Mortgage Rates Increases
The Home Purchase Sentiment Index published monthly by Fannie Mae reported yet another increase to its highest level since May 2022, mainly due to greater consumer optimism about mortgage rates.
Read More »Fannie Mae and Freddie Mac Show Strong Q1
Both GSEs helped promote sustainable homeownership and rental opportunities nationwide in Q1 of 2023, amid an uncertain economic quarter highlighted by continued Fed rate hikes and several bank failures.
Read More »FHFA Addresses New Fee Misconceptions
FHFA Director Sandra L. Thompson has issued a new statement addressing recent misconceptions about mortgage pricing. Click through to read her comments on the issue.
Read More »Housing Demand, Home Prices Remain More Resilient Than Anticipated
According to Fannie Mae's Economic and Strategic Research Group expectations for Q1, the increase in the sales pace from the end of 2022 to the beginning of 2023 revealed that homebuying demand remains buoyant and was unexpectedly responsive to small declines in mortgage rates.
Read More »Is a Credit Crunch Coming?
“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.
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