What Recession? Freddie Mac Says 2016 Will Be Best Year In A Decade.
Despite apocalyptic predictions from some experts, Freddie Mac says total home sales, housing starts and house prices will reach the highest point since 2006—even with the rocky start to the year.
In its March Outlook, Freddie Mac says it doesn’t expect affordability or inventory challenges to hold the market back from hitting its highest level in a decade, Housing Wire reports, and expects the 30-year mortgage to stay below 4% throughout the homebuying season.
The forecast says multifamily and single-family housing starts will increase by 200,000 units to 1.3 million in 2016, while home prices are expected to rise 4.8%. But, that’s not all—mortgage originations are set to jump $70B, bringing the total to $1.65T. [HousingWire]