A recently issued mortgage rate forecast for 2019 and 2020 suggests that average rates could hover below 5% for the foreseeable future. That forecast was issued by the economic research team at Freddie Mac, the same organization that publishes a widely cited mortgage industry survey.
Partly as a result of this increase in construction activity, but more due to lower rates and a strong labor market, home sales are expected to rise to an annual rate of 6.03 million in 2019 and 6.19 million in 2020.
Freddie Mac: Declining mortgage rates boosts growth in the. – "We still expect stronger home sales and housing starts in the coming months due to favorable market conditions and accelerating wage growth." In fact, Freddie predicts the 30-year fixed-rate mortgage will average 4.3% for the remainder of the year, which could lead to an increase in both single-family mortgage originations and refinances.
New U.S. single-family home sales rose more than forecast, likely as expectations of higher mortgage rates drew buyers into the market. Other data on Friday showed consumer sentiment holding at near a 13-year high this month as Americans anticipated that a stronger economy would create more jobs.
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 [.]
Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac said Thursday that the rate on 30-year fixed-rate mortgages ticked up to an average 4.86 percent this week from 4.85 percent last week. A year ago, it stood at 3.94 percent.
Digital Mortgage Fintech Rate With 1,500+ senior level executives from financial institutions, credit unions and FinTech providers from both the US and around the globe, Digital Banking 2019 will inspire you with exceptional content, live demos, encourage conversations through our various networking opportunities and promises to be an innovative and forward thinking three day event.
BRIEF-Freddie Mac Says Mortgage Rates Have Not Impacted Home Purchase Demand – May 3 (Reuters) – Federal Home Loan Mortgage Corp. UP FROM 43 PERCENT OVER SAME PERIOD A YEAR AGO * FREDDIE MAC SAYS “OBSERVED BUYER RESILIENCY IN FACE OF HIGHER RATES REFLECTS HEALTHY ECONOMY AND.
Sam Khater, Freddie Mac’s chief economist, says mortgage rates have mostly drifted sideways this summer. "This stability is much needed for home sales, which have crested because of the multi-year run up in prices, tight affordable inventory and this year’s higher rates," he said.