Posted 3/20/2024, 8:43:00 PM
Fannie Mae: Mortgage Rates to Stay Above 6% Through 2025 Amid Hot Inflation
- Fannie Mae raised its mortgage rate forecast, now expecting rates to stay above 6% through end of 2025
- Previously forecast rates dropping below 6% by end of 2023, now sees rates at 6.4% by end of 2023
- Cites hotter than expected inflation and strong jobs numbers putting upward pressure on rates
- Higher rates leading to downward revision in home sales forecasts for 2024 and 2025
- Still expects some increase in market transactions in 2024 relative to 2023 despite high rates
