General World News

Fannie Mae optimistic that mortgage rates will dip below 6% by year-end

Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. 

Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024. 

Courtesy: Fannie Mae

Fannie Mae’s economic and strategic research (ESR) group expects home sales and mortgage origination activity to begin a gradual recovery in details ⇒

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