Rates Expected to Hold Through 2020, Spurring Originations

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Posted To: MND NewsWire

Freddie Mac's April economic forecast focuses on interest rates and their impact on housing as the company's Economic & Housing Research Group revises several of its earlier predictions. The report notes that mortgage interest rates, which started to ease in November, saw a drastic decline at the end of March and have remained near the same level since then. At the same time, the job market continues to be strong and wage growth has been increasing moderately. These factors are all conducive for "a steadily growing housing market in 2019," they say. It appears that the report was written before the unexpectedly high initial estimate of first quarter GDP which came in at 3.2 percent. The consensus was for growth of 2.3 percent, a slight improvement over the 4 th quarter's 2.2 percent. Freddie...(read more)

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Source: http://www.mortgagen...

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