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MCLEAN, Va., May 16, 2019 (GLOBE NEWSWIRE) -- According to Freddie Mac’s (OTCQB: FMCC) May Forecast, steady housing market growth is expected due to the positive impact of low mortgage rates, a strong labor market, low unemployment, and modest wage growth.
Sam Khater, Freddie Mac’s chief economist, says, “Our outlook for the housing market remains largely unchanged. We still expect stronger home sales and housing starts in the coming months due to favorable market conditions and accelerating wage growth.”
“Additionally, our quarterly report on refinance activity shows that few U.S. homeowners are choosing to tap into their largest source of wealth despite having a record $16 trillion in home equity available to them. Most homeowners remain reluctant to increase their mortgage balance, whereas we continue to see balance increases on auto loans, credit cards, and student loans,” added Khater.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors, and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac, and Freddie Mac’s blog FreddieMac.com/blog.