Posted 10/16/2023, 7:40:00 PM
Mortgage Originations Seen Jumping 19% in 2024 as Rates Drop in Mild Recession
- Mortgage originations will jump 19% in 2024 to $1.94 trillion as rates fall due to a mild recession
- The recession will cause the Fed to ease interest rates, lowering mortgage rates
- Home prices will still appreciate for the next three years due to low inventory
- Housing demand will rebound after the recession brings down today's high mortgage rates
- More existing homeowners may sell as rates drop, adding housing supply