“The U.S. housing market is stuck, and we are not convinced it will become unstuck anytime soon,” economists at Bank of America Global Research say of ongoing affordability issues.
Category: doug duncan
Falling mortgage rates should boost home sales: Fannie Mae
Fannie Mae economists no longer expect a recession and are considerably more optimistic that mortgage rates have additional room to come down below 6 percent.
Homebuyer sentiment tallies record low amid falling rates
Fannie Mae economist warns that, while mortgage rates have retreated, the primary drivers of housing pessimism are persistent affordability challenges and worries about household finances.
Consumer homebuying sentiment has plateaued at ‘pessimistic’
Most Americans polled by Fannie Mae last month said they would rather buy than rent, but a record-high 82 percent also said August was a bad time to buy.
Economy’s strength could keep a damper on existing-home sales
Lack of inventory driven by mortgage lock-in effect may persist if the Federal Reserve maintains a ‘higher-for-longer’ rate strategy to combat inflation, Fannie Mae economists said.
Americans resigned to high home prices, mortgage rates: Fannie Mae
Consumer confidence in the housing market “appears to have plateaued at a relatively low level,” said Fannie Mae Chief Economist Doug Duncan in a new homeowner survey released on Friday.
Fed tightening likely to produce a ‘modest recession:’ Economists
Fannie Mae forecasters say the Federal Reserve’s decision on how high and long to keep rates up presents “a major risk over the next year,” with a question of a downturn more a matter of “when” than “if.”
Home prices are looking softer to Fannie Mae economists
With a recession looking increasingly likely, Fannie Mae economists expect national home prices to fall 6.7 percent over the next two years.