doug duncan

Consumer sentiment toward housing increased to the highest level in nearly 2 years in January, with a record number expecting mortgage rates to come down in the year ahead: Fannie Mae

Fannie Mae economists no longer expect a recession in 2024 and are considerably more optimistic that mortgage rates have additional room to come down below 6%

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

Monthly Fannie Mae survey shows homebuyer pessimism hitting a new high last month, but a broader index aimed at capturing overall housing market sentiment actually improved

According to Fannie Mae's National Housing Survey, 84% of Americans polled said it was a bad time to buy a home, and most weren't expecting mortgage rates to come down anytime soon

Most Americans polled by Fannie Mae last month said they would rather buy than rent, but a record-high 82% also said August was a bad time to buy, citing affordability concerns

Lack of inventory driven by mortgage lock-in effect may persist if Federal Reserve maintains 'higher-for-longer' rate strategy to combat inflation: Fannie Mae economists

Federal Reserve's decision on how high and long to keep rates up 'a major risk over the next year' with question of a downturn more a matter of 'when' than 'if': Fannie Mae

Fannie Mae economists say 'extraordinarily tight' inventories of existing homes driven by mortgage lock-in effect has shifted demand toward new homes

More optimistic outlook of where mortgage rates are headed over the next 12 months drives the largest increase in Fannie Mae's Home Purchase Sentiment Index in more than 2 years

The housing sector's resilience to higher prices and mortgage rates has bolstered prices, but a lack of for-sale inventory is expected to limit sales, according to Fannie's latest monthly forecast