Stronger economy boosts mortgage rates: Freddie Mac

Stronger economy boosts mortgage rates: Freddie Mac

"We still expect stronger home sales and housing starts in the coming months due to favorable market conditions and accelerating wage growth." In fact, Freddie predicts the 30-year fixed-rate mortgage will average 4.3% for the remainder of the year, which could lead to an increase in both single-family mortgage originations and refinances.

Favorable mortgage rates are expected to boost homebuyer affordability for the remainder of 2019, according to Freddie Mac’s April Forecast. According to the government sponsored enterprise, the.

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Currently, Freddie Mac is forecasting that housing starts will increase to 1.26 million in 2019 and 1.35 million in 2020. Partly as a result of this increase in construction activity, but more due to lower rates and a strong labor market, home sales are expected to rise to an annual rate of 6.03 million in 2019 and 6.19 million in 2020.

Also on Thursday, Freddie Mac data on weekly mortgage rates was released showing that mortgage rates continued their climb. They reached 4.65 percent, nearly tying with the May 2018 7-year high of.

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Its low-rate policy has helped boost stock prices and supported a steadily growing economy. article continues BELOW For this summer, Freddie Mac is expecting mortgage rates to be about a quarter to a.

According to the latest Freddie Mac report: "These historically low rates should provide continued opportunities for current homeowners to refinance their mortgages." Home Loan Applications Surge in June 2019. The housing market is already getting a boost from low mortgage rates.

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Rising home prices, tight inventories of affordable homes and historically higher mortgage rates have dampened home sales despite the strong economy. Home borrowing costs "may be slowly on the rise.

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Costs for would-be homebuyers have been climbing, and the key 30-year rate has been running at its highest levels in more than seven years. Mortgage buyer Freddie Mac said Thursday. hike before.

Mortgage applications plummet nearly 10% to end 2018, despite lower rates Mortgage rates jumped this week on stronger-than-expected economic reports, according to Freddie Mac’s weekly survey. that sales are at their highest level since early 2007. "If the economy is. Application activity increases on a slight decline in rates The 15-year fixed-rate. total loan application volume – increased 2.7 percent from a.

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