Freddie Mac real estate forecast | Cross River Real Estate | Buying Bedford Real Estate

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Freddie Mac (OTCQB: FMCC) today released its monthly Outlook for September, which analyzes the trends that will drive the mortgage market in 2018. These trends include an increase in purchase mortgage volume, a cooling of refinance activity and continued strong house price growth.
Outlook Highlights
  • With 1.33 million housing starts expected in 2018 (up from 1.22 in 2017), new home sales should be the primary driver of sales in 2018. We expect total home sales (new and existing) to increase about two percent from 2017 to 2018.
  • The gradual increase in housing starts and moderate increases in mortgage rates will help to reduce house price growth next year. We forecast U.S. house price growth of 4.9 percent in 2018, compared to a 6.3 percent growth in 2017 through August.
  • With mortgage rates up from last summer’s near-record lows, the potential for rate refinances has diminished. This will cause the refinance share of mortgage activity to decline to 25 percent in 2018, down 23 percent since 2016, and the lowest annual refinance share since 1990.
Freddie Mac real estate forecast | Cross River Real Estate | Buying Bedford Real Estate

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