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Market Strength to Continue Next Year, Freddie Predicts

Market Strength to Continue Next Year, Freddie Predicts Freddie Mac | December 2, 2019 You can expect the housing market to continue gathering strength in the new year. Freddie Mac predicts 2019 to wrap up with 6 million home sales for the year and 6.1 million in 2020, according to the mortgage giant's November forecast. Freddie Mac Chief Economist Sam Khater acknowledges that the economy saw increased volatility in November from ongoing trade disputes. “However, given low interest rates,

New-Home Sales Fall in October, But Are Still Up Over Long Haul

New-Home Sales Fall in October, But Are Still Up Over Long Haul National Association of Home Builders | November 27, 2019 Sales of newly built single-family homes faltered last month, but overall sales are still performing stronger than they did a year ago. Indeed, new-home sales are still nearly 10% higher than a year ago. Also, the past two months in new-home sales represent the highest monthly sales rate since October 2007, the Commerce Department reported Tuesday. Sales of new

Drop in Mortgage Rates to Drive Higher Buyer Demand

Drop in Mortgage Rates to Drive Higher Buyer Demand Freddie Mac | November 22, 2019 Mortgage rates declined this week, with the 30-year fixed-rate mortgage averaging 3.66%, Freddie Mac reports. After several weeks of increases, the drop in mortgage rates is a welcome sign for home buyers. “The housing market continues to steadily gain momentum with rising homebuyer demand and increased construction due to the strong job market, ebullient market sentiment, and low mortgage rates,” says Sam

Strong Economy Boosts Home Sales; Upward Trend to Hold

Strong Economy Boosts Home Sales; Upward Trend to Hold National Association of REALTORS® | November 21, 2019 Low mortgage rates and a strengthening economy propelled home sales in October, the National Association of REALTORS® reported Thursday. Total existing-home sales, which include completed transactions of single-family homes, townhomes, condos, and co-ops, rose 1.9% month over month to a seasonally adjusted annual rate of 5.46 million, NAR’s latest existing-home sales report shows. Sales

Housing Could Buoy Economy in 2020

Housing Could Buoy Economy in 2020 Fannie Mae | November 19, 2019 Fannie Mae economists have upgraded the economic outlook for the coming year, and a big reason behind that is expected growth in the housing market. Housing added to economic growth in the third quarter for the first time in more than a year and a half. That momentum will likely continue in the fourth quarter and the first half of 2020, according to the latest forecast from Fannie Mae’s Economic and Strategic Research Group.

Mortgage Rates Rise Again as Recession Fears Recede

Mortgage Rates Rise Again as Recession Fears Recede Freddie Mac | November 15, 2019 Mortgage rates climbed again this week, and economists say the trend may well continue as the economy sees some improvement. The 30-year fixed-rate mortgage averaged 3.75% this week, Freddie Mac reports. “The modest uptick in mortgage rates over the last two months reflects declining recession fears and a more sanguine outlook for the global economy,” says Sam Khater, Freddie Mac’s chief economist. “Due to the