Stronger economy boosts mortgage rates: Freddie Mac

In addition to their mortgage rate forecasts for 2019 and 2020, Freddie Mac’s research team shared a number of trends and predictions in their latest report. Here are some highlights: They predicted that the nation’s GDP growth will slow to a rate of 2.5% in 2019, followed by a rate of 1.8% in 2020.

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.

Try Freddie Mac Home Possible or Home Ready Program (Lower Interest Rates) Mortgage rate increases seen since the start of 2018 coupled with last week’s additional move higher according to Freddie Mac mean that today’s rates, at 4.66 percent, are 71 basis points.

Mortgage Rates Maintain Downward Trend. Backed by very strong consumer spending, the economy is red-hot this month, which is in turn rippling through the financial markets and driving equities higher. Unfortunately, the same cannot be said about the housing market, where it appears sales activity crested in late 2017.

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.

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Mortgage buyer Freddie Mac said Thursday the rate on 30-year, Builders had assumed that a stronger economy would boost sales, yet a.

Poor credit won’t bar a mortgage broker from getting a surety bond “If you have a decrease in income and can’t afford the mortgage, at least a lot of the big companies will do modifications,” said Harris, the knoxville housing counselor. “vanderbilt won’t even.

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.

Freddie Mac affects the U.S. economy by lowering interest rates. That makes more loans available to more new homeowners. That makes more loans available to more new homeowners. For example, reducing the rate from 8.5% to 8% allowed an additional 791,000 moderate-income families to buy homes.

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Freddie Mac thinks the new tax legislation will boost income, quoting the Congressional Budget Office that total salaries are likely to increase by an average of 0.9 percent due to the new law.

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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.