Tag Archives: Fannie Mae

“Mortgage rates once again breached the 7% mark in August, hitting a 22-year high and doing no favors for consumer sentiment,” said Doug Duncan, Fannie Mae SVP and Chief Economist.

“When remote work is coupled with the reported rise in the importance of affordability, it's not surprising that respondents expressed a greater willingness to live farther from their current location,” noted a Fannie Mae report. “Of course, renters indicated the greatest affordability concerns, as well as a willingness to consider areas farther away from their current location.”

While the “if” and “when” of a recession remain uncertain, the Fannie Mae Economic and Strategic Research Group does forecast one to occur, expected to begin in the first half of 2024—despite increased chances of a “soft landing.”

“U.S. housing starts in July were at a seasonally adjusted annual rate of 1.452 million, which is 3.9% above the downward revised June estimate of 1.398 million and is 5.9% above the July 2022 rate of 1.371 million,” First American Deputy Chief Economist Odeta Kushi said.

Matt Stepanovich of SingleSource Property Solutions discusses big data’s role in standardizing property valuations and the future of appraisal modernization.

An upcoming webinar presented by the Five Star Institute and Brookstone Management will examine the responsibilities of home preservation experts in combating blight, returning foreclosed properties to the market, and protecting property values.

With mortgage rates surpassing the 7% mark, the MBA reports yet another dip in weekly purchase and refi apps as homebuyers struggle in the face of a depleted housing supply and elevated mortgage rates.

For a litany of reasons—including rising prices and inflation—most consumers surveyed believe that now is not a good time to purchase a home.

A new poll by Fannie Mae has found that 73% of respondents believe the U.S. economy is on the “wrong track,” with a vast majority of lenders feeling the economy is "very likely" or "somewhat likely" to enter a recession in the next two years.

As markets responded positively to data showing that U.S. inflation continues to cool, the MBA reports that mortgage application volume rose week-over-week, with refi apps increasing more than 7%.