MBA Mortgage Finance Forecast

Total existing homes in quarter 3 are expected to be on a slight decrease from quarters 1 and 2. Yet projected to be slightly higher than the total homes from quarter 3 in 2017.

The number of new homes are projected to continue to decline from the 1st and 2nd quarters, but show a small increase once quarter 4 comes around.

Median prices of homes are projected to continue on the upward trajectory. There was a $23,000 increase from quarter 1 to quarter 2, another $4,000 increase is projected in quarter 3.

The median price of new homes saw a large dip from quarter 1 to quarter 2, but is expected to maintain similar pricing from quarter 2 to quarter 3.

The 30-year fixed rate mortgage percentage remained steady over the past few months, but is expected to be 0.7% higher than this time last year.

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