{"id":1880,"date":"2023-10-18T17:22:06","date_gmt":"2023-10-18T17:22:06","guid":{"rendered":"https:\/\/connectwithfund.com\/finance\/its-a-tale-of-two-housing-markets-with-buyers-and-sellers-at-opposite-ends-fannie-mae-ceo-says\/"},"modified":"2023-10-18T17:22:07","modified_gmt":"2023-10-18T17:22:07","slug":"its-a-tale-of-two-housing-markets-with-buyers-and-sellers-at-opposite-ends-fannie-mae-ceo-says","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=1880","title":{"rendered":"It\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says"},"content":{"rendered":"
\n

PHILADELPHIA \u2014 The U.S. housing market is pushing buyers and sellers to opposite ends, as one group struggles with affordability while the other is locked into low rates.<\/p>\n

\u201cIt\u2019s a tale of two markets,\u201d Priscilla Almodovar, chief executive of Fannie Mae, told MarketWatch in an interview on the sidelines of the Mortgage Bankers\u2019 Association\u2019s annual conference in Philadelphia.\u00a0<\/p>\n

\n

\u201cHomeowners are in good shape because they probably have a lot of equity in their homes. They probably have a mortgage that\u2019s 2%, 3%, 4%,\u201d she explained, but are constrained by a \u201clock-in effect of not giving up that mortgage.\u201d<\/p>\n

Also see:<\/strong> Feds make it easier for home buyers to buy houses with accessory dwelling units<\/p>\n

Roughly 92% of U.S. homeowners who have mortgages have a rate below 6%, according to a June analysis by Redfin. But as the 30-year mortgage rate inches closer to 8%, homeowners may have little interest in selling their homes, since they may have to buy another with a higher interest rate.\u00a0<\/p>\n

On the flip side, buyers are also contending with mortgage rates at the highest level in 23 years, and are dealing with low inventory due to homeowners not selling. Inventory of homes for sale shrank by 4% in September as compared to the same time last year, according to Realtor.com. <\/p>\n

The median sales price for an existing home was $407,100 as of August, up 3.9% from the prior year, according to the National Association of Realtors.<\/p>\n

Fannie Mae expects mortgage rates to stay in the 7% range through most of 2024, before ending next year at 6.7%, according to its latest forecast.<\/p>\n

\u201cWe expect the higher-mortgage-rate environment to continue to dampen housing activity and further complicate housing affordability into 2024,\u201d Doug Duncan, chief economist and senior vice president at Fannie Mae, said in a statement.\u00a0<\/p>\n

Read more:<\/strong> Mortgage bankers expect the 30-year rate to drop to 6.1% by the end of 2024<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PHILADELPHIA \u2014 The U.S. housing market is pushing buyers and sellers to opposite ends, as one group struggles with affordability while the other is locked into low rates. \u201cIt\u2019s a tale of two markets,\u201d Priscilla Almodovar, chief executive of Fannie Mae, told MarketWatch in an interview on the sidelines of the Mortgage Bankers\u2019 Association\u2019s annual conference in Philadelphia.\u00a0 \u201cHomeowners are in good shape because they probably have a lot of equity in their homes. They probably have a mortgage that\u2019s 2%, 3%, 4%,\u201d she explained, but are constrained by a \u201clock-in effect of not giving up that mortgage.\u201d Also see:<\/p>\n","protected":false},"author":1,"featured_media":1881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-1880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nIt\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"PHILADELPHIA \u2014 The U.S. housing market is pushing buyers and sellers to opposite ends, as one group struggles with affordability while the other is locked\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/connectwithfund.com\/?p=1880\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says | ConnectWithFund\" \/>\n<meta property=\"og:description\" content=\"PHILADELPHIA \u2014 The U.S. housing market is pushing buyers and sellers to opposite ends, as one group struggles with affordability while the other is locked\" \/>\n<meta property=\"og:url\" content=\"https:\/\/connectwithfund.com\/?p=1880\" \/>\n<meta property=\"og:site_name\" content=\"ConnectWithFund\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-18T17:22:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-18T17:22:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/connectwithfund.com\/wp-content\/uploads\/2023\/10\/1697649727_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/connectwithfund.com\/?p=1880\",\"url\":\"https:\/\/connectwithfund.com\/?p=1880\",\"name\":\"It\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says | ConnectWithFund\",\"isPartOf\":{\"@id\":\"https:\/\/connectwithfund.com\/#website\"},\"datePublished\":\"2023-10-18T17:22:06+00:00\",\"dateModified\":\"2023-10-18T17:22:07+00:00\",\"author\":{\"@id\":\"https:\/\/connectwithfund.com\/#\/schema\/person\/9344cb2de07361e178f5c834d2167e52\"},\"description\":\"PHILADELPHIA \u2014 The U.S. housing market is pushing buyers and sellers to opposite ends, as one group struggles with affordability while the other is locked\",\"breadcrumb\":{\"@id\":\"https:\/\/connectwithfund.com\/?p=1880#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/connectwithfund.com\/?p=1880\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/connectwithfund.com\/?p=1880#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/connectwithfund.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"It\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/connectwithfund.com\/#website\",\"url\":\"https:\/\/connectwithfund.com\/\",\"name\":\"FinMarkPros\",\"description\":\"Latest Finance News and Updates\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/connectwithfund.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/connectwithfund.com\/#\/schema\/person\/9344cb2de07361e178f5c834d2167e52\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/connectwithfund.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3740b286006c76c86a45c4879850da000667bb6f5bbe053edd4a416d2cc4fb80?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3740b286006c76c86a45c4879850da000667bb6f5bbe053edd4a416d2cc4fb80?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/connectwithfund.com\"],\"url\":\"https:\/\/connectwithfund.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"It\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says | ConnectWithFund","description":"PHILADELPHIA \u2014 The U.S. housing market is pushing buyers and sellers to opposite ends, as one group struggles with affordability while the other is locked","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/connectwithfund.com\/?p=1880","og_locale":"en_US","og_type":"article","og_title":"It\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says | ConnectWithFund","og_description":"PHILADELPHIA \u2014 The U.S. housing market is pushing buyers and sellers to opposite ends, as one group struggles with affordability while the other is locked","og_url":"https:\/\/connectwithfund.com\/?p=1880","og_site_name":"ConnectWithFund","article_published_time":"2023-10-18T17:22:06+00:00","article_modified_time":"2023-10-18T17:22:07+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/connectwithfund.com\/wp-content\/uploads\/2023\/10\/1697649727_social.jpeg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/connectwithfund.com\/?p=1880","url":"https:\/\/connectwithfund.com\/?p=1880","name":"It\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says | ConnectWithFund","isPartOf":{"@id":"https:\/\/connectwithfund.com\/#website"},"datePublished":"2023-10-18T17:22:06+00:00","dateModified":"2023-10-18T17:22:07+00:00","author":{"@id":"https:\/\/connectwithfund.com\/#\/schema\/person\/9344cb2de07361e178f5c834d2167e52"},"description":"PHILADELPHIA \u2014 The U.S. housing market is pushing buyers and sellers to opposite ends, as one group struggles with affordability while the other is locked","breadcrumb":{"@id":"https:\/\/connectwithfund.com\/?p=1880#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/connectwithfund.com\/?p=1880"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/connectwithfund.com\/?p=1880#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/connectwithfund.com\/"},{"@type":"ListItem","position":2,"name":"It\u2019s a \u2018tale of two housing markets\u2019 with buyers and sellers at opposite ends, Fannie Mae CEO says"}]},{"@type":"WebSite","@id":"https:\/\/connectwithfund.com\/#website","url":"https:\/\/connectwithfund.com\/","name":"FinMarkPros","description":"Latest Finance News and Updates","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/connectwithfund.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/connectwithfund.com\/#\/schema\/person\/9344cb2de07361e178f5c834d2167e52","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/connectwithfund.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3740b286006c76c86a45c4879850da000667bb6f5bbe053edd4a416d2cc4fb80?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3740b286006c76c86a45c4879850da000667bb6f5bbe053edd4a416d2cc4fb80?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/connectwithfund.com"],"url":"https:\/\/connectwithfund.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/posts\/1880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1880"}],"version-history":[{"count":1,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/posts\/1880\/revisions"}],"predecessor-version":[{"id":1882,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/posts\/1880\/revisions\/1882"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=\/wp\/v2\/media\/1881"}],"wp:attachment":[{"href":"https:\/\/connectwithfund.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/connectwithfund.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}