Fannie Lender Sentiment Survey Points to Rising Rate Fallout

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Posted To: MND NewsWire

Post-election interest rate changes have considerably dampened mortgage lenders’ expectations for mortgage demand. Fannie Mae’s fourth quarter Mortgage Lender Sentiment Survey showed the net share of lenders expecting demand to increase over the next three months was at or near survey lows regardless of loan types. The top reason for worsening near-term outlook across all mortgage types was “Mortgage rates are not favorable,” cited by two-thirds of lenders for conventional loans and slightly more than half of those for government loans – a survey high. The net share of lenders reporting growth expectations also fell. After three straight quarters of a positive profit margin outlook those expectations also hit a new survey low across all loan types “The survey captured lenders’ bearish sentiment…(read more)

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