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MCLEAN, Va., April 29, 2019 (GLOBE NEWSWIRE) -- According to Freddie Mac’s (OTCQB: FMCC) April Forecast, the mortgage market is expected to see favorable mortgage rates for the remainder of the year, which will help homebuyer affordability.
Sam Khater, Freddie Mac’s chief economist, says, “While mortgage rates have risen in recent weeks, they remain lower than where they were a year ago and wage growth has accelerated and is finally growing at the same rate as home prices for the first time in seven years. We expect to see the result of these low mortgage rates and stronger wage growth translate into better home sales in the coming months, along with better than expected refinance activity for the year.”
“Without a doubt, these low mortgage rates and higher incomes will help homebuyers on the affordability front this spring homebuying season. Unfortunately, first-time homebuyers will likely not realize as much of the benefit with such high demand and price growth for lower-priced homes,” 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.