Existing-home sales decline for fifth time in six months Home prices remained high and with a decline in homes on the market, many would-be homeowners are unable to purchase. NAR said home sales fell 3.4 percent in September after stagnating in August, the.
Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other factors will continue to hold back home purchases. "Housing remains a net positive to the economy, as the industry anticipates growth fueled by strong household balance sheets, low mortgage rates, and a surge in refinance activity.
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We raised our forecast for 2019 refinance volume by $16 billion as a result, and total mortgage originations are now expected to increase to $1.67 trillion in 2019 from $1.64 trillion in 2018." – Joel Kan, Associate Vice President – Economic & Industry Forecasting, MBA
Economic growth will slow in 2019, but conditions will help home sales hold steady, with mortgage volume now being projected to rise over 2018, according to Fannie Mae. Housing inventory will, however, remain a homebuyer hurdle. Fannie Mae now projects $1.62 trillion in total volume for 2019, compared with $1.6 trillion in 2018.
A slow economy. or adjusting loan limits among other possible actions. While we’re talking about conforming conventional news, the Agencies continue to issue securities – the secondary market is.
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Fannie Sees Growth Slowing, Turns Bearish on Housing. July 20, Even though interest rates stopped rising and even dipped a. The overall bearish activity in housing prompted fannie mae to lower its forecast for existing home sales from a slight increase over 2017
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Even if the U.S. economy slows during the rest of 2019, the outlook for the housing and mortgage market remains strong, said economists at Fannie Mae and Freddie Mac. Gross domestic product grew 3.2% in the first quarter, but Fannie Mae projects the second quarter to have just 1.7% growth, while Freddie Mac is slightly [.]
Even with slowing economy, Fannie Mae forecasts rising mortgage volume 3 months ago admin Economic growth will slow in 2019, but conditions will help home sales hold steady, with mortgage volume now being projected to rise over 2018, according to Fannie Mae.