Fannie Cuts
Mortgage-Rate Outlook, but Home Buyers May Not Bite
Fannie Mae now believes the 30-year fixed-rate mortgage will average about 4.3 percent next year, down two-tenths of a percentage point from its previous forecast. Lower rates will result in smaller monthly loan payments, making homeownership more affordable. However, the latest housing-market forecast from Fannie Mae does not adjust the projection for total home sales in 2015. "The housing market continues to grind its way upward, but we don't expect a breakout performance in 2015 as the fundamentals remain somewhat muted," says Doug Duncan, Fannie Mae chief economist. Mortgage activity next year will likely be very similar to activity this year, adds Duncan.
From "Fannie Cuts Mortgage-Rate Outlook, but Home Buyers May Not Bite"
MarketWatch (11/20/14) Mantell, Ruth
Fannie Mae now believes the 30-year fixed-rate mortgage will average about 4.3 percent next year, down two-tenths of a percentage point from its previous forecast. Lower rates will result in smaller monthly loan payments, making homeownership more affordable. However, the latest housing-market forecast from Fannie Mae does not adjust the projection for total home sales in 2015. "The housing market continues to grind its way upward, but we don't expect a breakout performance in 2015 as the fundamentals remain somewhat muted," says Doug Duncan, Fannie Mae chief economist. Mortgage activity next year will likely be very similar to activity this year, adds Duncan.
From "Fannie Cuts Mortgage-Rate Outlook, but Home Buyers May Not Bite"
MarketWatch (11/20/14) Mantell, Ruth
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