The GSE's latest outlook pins the 30-year fixed at 6.3% through year-end
Driving the revised forecast are expectations for slightly cooler economic growth and hotter inflation, which could mean mortgage rates come down a little more slowly
Negative buyer and builder sentiment matched with growing economic uncertainty to stifle new construction in June, with single-family permits, starts and completions taking the biggest hit
Multifamily housing starts fell 9.8%, reaching a seasonally adjusted rate of 1,366,000, while single-family housing starts fell 8.4% month over month, according to data released Wednesday
Fannie Mae and MBA forecasts dampened expectations for projected home sales in 2025 while offering a more cautious outlook on the prospects of mortgage rates coming down in the new year
High mortgage rates, slower homebuyer activity and weakening homebuilder sentiments created the perfect storm in June, keeping new residential construction from posting annual gains
Despite a decline in starts, which reflected curbed confidence in June amid mellowing lumber prices, experts said gains made in permit applications were a positive sign
As if in a blast from the past, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose 6 points to 78 in August, the index's highest reading since December 1998
Single-family starts up 16.7 percent