Freddie sees Banner Year for Originations; Rates Playing The Range; Buyer Traffic Weighing on Builder Confidence
Strong home sales, near-historic low interest rates, a burst of refinancing, and continued home price growth are moving Freddie Mac's economic team to predict that mortgage originations will top $2 trillion this year. That will be the highest volume since 2012 . The prediction comes in the current edition of the company's Economic and Housing Research Outlook despite what the authors term overall weak economic growth. The mortgage markets continue to feel the impact of the United Kingdom's Brexit vote . The report says the continued flight to safety it, along with other global factors, triggered held the average 10-year Constant Maturity Treasury yield to 1.5 percent in July although that is higher than the low or even negative yield in much of the developed world. Those rates are continuing
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