Record-low interest rates continue to drive home sales and refinance lending volumes – perhaps two of the brightest spots of the U.S. economy today. Following is a summary of the September 2020 forecasts from Fannie Mae and the MBA for interest rates, existing and new-home sales and residential lending. Freddie Mac forecasts these also, but …Read more
Each month Fannie Mae and the MBA forecast interest rates, residential lending, and both existing and new home sales. Freddie Mac does a quarterly forecast covering lending, interest rates and total home sales – existing plus new. The following tables summarize the latest forecasts as of June 2020. Interest Rates Differing expectations of interest rates …Read more
Residential interest rates have surprised almost everyone dropping to an almost three-year low and are driving an unanticipated refinance boom. Expected refinance lending volume for 2019 commenced the year at $404.0 billion and has rocketed to $715.3 billion based on the latest forecasts from Fannie Mae, Freddie Mac and the Mortgage Bankers Association. The impact …Read more
Summary – Combined Fannie Mae-Freddie Mac-Mortgage Bankers Association Forecast July 2019 Existing Home Sales – -Change from Prior Year +0.3 Percent 2019, Median Price Up 3.1 Percent +1.7 Percent 2020, Median Price Up 3.1 Percent New Home Sales – Change from Prior Year +6.5 Percent 2019, Median Price Up 1.1 Percent +0.4 Percent 2020, Median …Read more
As the Federal Reserve’s Open Market Committee prepares to meet today, interest rates and where they are likely going are making headlines. Interest rates make up part of the throttle linkage for residential lending. Shown in the table is the latest forecast for 30-year conventional mortgage rates as reported by Fannie Mae, Freddie Mac and …Read more
Existing home sales are down 6.6 percent in the first three months of this year, but that is not deterring a positive outlook for the remainder of the year according to the April 2019 forecasts from Fannie Mae, Freddie and the Mortgage Bankers Association. Each month these three update and revise their forecasts for new …Read more
Interest rates rose each and every week in the past four weeks according to the Primary Mortgage Market Survey from Freddie Mac, with the 30-year, fixed-rate conventional loan hitting 4.20 percent the week ending April 25, 2019. Rates, however, were still 38 basis points less than 1 year ago when the conventional loan was at …Read more
One year ago the expectation was for rising interest rates and plunging refinance lending volumes. Yet as of March 28, 2019, the 30-year conventional mortgage interest rate fell 22 basis points from the prior week to 4.06 percent according to Freddie Mac’s Weekly Primary Mortgage Market Survey. The drop was the largest one-week decline seen …Read more
Existing home sales continue to mimic a slow-leaking tire this year, as sales have fallen short in four of the eight months thus far in 2018 versus a year ago. Year-to-date sales are down 1.23 percent. Though sales are down, rising prices are compensating lending with the median up 5.1 percent compared to the same …Read more
Ever get that Déjà Vu all over again feeling – like you have been there and done that? Déjà Vu is French for Already Seen –and that appropriately describes what is going on in housing markets and interest rates today. Up front we need to recognize that interest rates in recent years and today are …Read more