Posted To: MND NewsWire

Freddie Mac’s economic projections at year end are largely unchanged from those over the last few months when interest rates neared a new low and the market perked up. Its economists summed up the year that is about to end saying, ” Sustained economic growth, low interest rates, and a robust labor market helped the U.S. housing market regain its footing in 2019.” The company is projecting modest growth in the housing market for both next year and in 2021, growing from expected total home sales (new and existing) of 6.0 million this year to 6.2 million and 6.3 million over the forecast horizon. They still expect rates to remain low and for home price increases to continue to slow , improving affordability. The 30-year fixed-rate will average 3.8 percent in both 2020 and 2021 and house price…(read more)

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Source: Mortgage News Daily