Fannie Mae alters 2021 forecast in response to housing market shortage

According to HousingWire, a full month of sub-3% mortgage rates, ongoing housing market supply constraints, and a 300% increase in lumber prices over the past 15 months has prompted Fannie Mae‘s Economic and Strategic (ESR) Group to revise several of its 2021 forecasts. March’s existing home sales report perfectly illustrated the country’s core housing market issues – a decade of under-building led to a 3.7% decline in transactions from the prior month, even though there’s never been more demand for a home.

Continue reading Fannie Mae alters 2021 forecast in response to housing market shortage at Movement Mortgage Blog.

from Movement Mortgage Blog https://ift.tt/3fB1nSG


via Naza Finance Blog