Leading housing economists at Fannie Mae now predict that home prices will shrink next year, instead of growing 4.4 percent as they had previously forecast.
Fannie Mae’s top economic minds issued a depressing prognosis for the nation’s housing sector as mortgage rates took another big jump and Fed Chair Jerome Powell said housing needs “a correction.”
Economists at Fannie Mae expect a significant drop in sales of existing single-family homes this year, along with a significant jump in the start of construction on multifamily buildings.
The share of consumers who think it’s a less-than-optimal time to buy or sell a home keeps ticking upwards as interest rates rise and housing affordability drops.
The latest Fannie Mae survey of consumer homebuying sentiment shows that Americans are of opposite minds when it comes to buying and selling homes.
Fannie Mae and Freddie Mac shut many self-employed buyers out during the pandemic. But now, those rules are gone and some lenders, perhaps sensing a grand opportunity to boost market share, are targeting gig workers directly.
A record low 25 percent of respondents in Fannie Mae’s latest monthly Home Purchase Sentiment Index survey said it was a good time to buy a home.
Fannie Mae’s and Freddie Mac’s respective economic forecast teams have issued their 2022 predictions, and both foresee a leveling off of last year’s meteoric home price growth across the nation’s housing markets.
For the next 60-odd days, some homebuyers have an unusual opportunity to find financing at a tad lower cost.
Federal housing regulators want input from industry and community groups on how Fannie Mae and Freddie Mac will measure their own efforts to reduce racial inequality in the mortgage market.
White House officials are outlining plans to build and restore more than 2 million homes, a response to the volcanic rise in housing prices over the past year.
Mortgage lenders using Fannie Mae’s systems will soon be able to consider rental payment history when deciding whether to approve a loan, a change that could help increase Black homeownership.
The Federal Housing Finance Agency is offering a weekend present to loan originators looking for refinance business this summer by announcing the end to its Adverse Market Fee.
Fannie Mae’s monthly survey of homebuying sentiments showed Americans’ perceptions of the housing market continued to diverge last month, pointing the way towards a potential easing of demand for homes even as average 30-year mortgage interest rates remain at or near 3 percent.
The Supreme Court on Wednesday ruled that the structure of the agency that oversees mortgage giants Fannie Mae and Freddie Mac violates separation of powers principles in the Constitution.
As the market for vacation homes continues to forge ahead at an almost unprecedented pace, the two major suppliers of financing funds have put a lid on the number of mortgages for such properties they will buy from primary lenders.
The federal agency that oversees two of the biggest guarantors of mortgages in the U.S. market announced that it is extending its moratorium on foreclosures.
More than two-thirds of those surveyed have gotten to know their neighbors better during the pandemic. Almost that many have made an effort to be more friendly than usual.
The Supreme Court is hearing a case Wednesday that could make it easier for the president to fire the head of the agency that oversees government-controlled mortgage giants Fannie Mae and Freddie Mac.
There’s good news for mortgage applicants who don’t fit into the precise mold demanded by Fannie Mae and Freddie Mac: After pulling back at the start of the pandemic in March, other lenders are returning to the market.