Freddie Mac Mortgage Predictions For 2017

Freddie Mac Mortgage Predictions For 2017

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Strong home sales, near-historic low interest rates, a burst of refinancing, and continued home price growth are moving Freddie Mac’s economic team to predict that mortgage originations will top.. So when investors got spooked by the rising stock market (fearing a downturn) and the unpredictability of the current U.. Anxious would-be home buyers have been watching mortgage interest rates finally begin ticking up again in 2017, after years of historical lows.. S Administration, they put their money into bonds And since mortgage rates are generally an inverse reflection of the strength of the bond market, when bonds are up, mortgage interest rates drop.. So they’re turning back to bonds ’Now people are re-evaluating and coming to the conclusion that [these promises] are going to take a lot longer than they expected,’ says Freddie Mac’s chief economist, Sean Becketti.. What’s really driving down mortgage interest rates Mortgage interest rates are influenced by the Federal Reserve’s short-term interest rates, but in fact they’re more closely tied to the 10-year U.. And that extra money can make a real difference in the kinds, sizes, and locations of homes that buyers can afford.. But that’s not happening this time around Despite a Fed hike just last month and two more looming on the horizon, the average interest rate for a 30-year fixed-rate mortgage fell back below 4% for the first time since November, according to.. ’ They’re also not quite as optimistic about how quickly President Donald Trump’s infrastructure plans will come to fruition, after having invested in sectors expected to profit from those plans.. Fannie and Freddie privatized - Michael Taylor, branch manager at First Home Mortgage Corporation, in Millersville, Md.. ’Investors are a little skeptical because the stock market keeps climbing,’ says Don Frommeyer, a mortgage officer at Marine Bank in Indianapolis.. ’The agencies have paid back their TARP loans and have been paying the U S Treasury,’ he says.. S Treasury bond market That’s because as investments, bonds and mortgages are similar: Investors consider them significantly safer bets than the more volatile stock market.. They were at just 3 97% as of Thursday, down from 4 08% the previous week and a high of 4.. A fraction of a percentage point can add up to hundreds of extra dollars a year in mortgage payments.. ’Interest rates are really tricky to predict ’ Yet even a small change in the interest rate can be a game changer for buyers.. , says 2017 will see Fannie Mae and Freddie Mac begin the process of privatization.. ’They’re looking for safe ways to invest their money, and they’re going back to the bond market.. 3% for the year, on March 16 Please enter a valid ZIP code Please enter a ZIP code ’If you had an answer to that question, you’d probably make millions trading on Wall Street,’ says Danielle Hale, managing director of housing research at the National Association of Realtors®.. And when the Federal Reserve raised the short-term interest rate in March, the conventional wisdom was that mortgage rates would follow suit—as they typically do. 773a7aa168
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