Ed Neuhaus In this video, we dive deep into the Mortgage Bankers Association's (MBA) predictions for the 2024 housing market, as unveiled at their Annual Convention & Expo. Brace yourselves for crucial insights into the real estate landscape.
🏠 Mortgage origination volume set to soar! MBA anticipates a significant increase to $1.95 trillion, up from $1.64 trillion in 2023.
📉 Economic uncertainty looms! Discover why there's concern about a possible mild recession in the first half of 2024 and how it could affect you.
🧐 Mike Fratantoni, MBA's chief economist, sheds light on potential economic downturn factors, including tighter credit and pandemic-induced savings reductions.
📊 Job market predictions! Find out why the job market is expected to decelerate, with a projected 5% unemployment rate by the end of 2024.
📈 Inflation insights! Learn about inflation's gradual decline toward the Federal Reserve's 2% target by mid-2025.
💼 Fiscal and monetary policies' impact! Explore how these policies have influenced mortgage rates and what this means for buyers and sellers.
🏡 Homebuyer boost! Despite challenges, discover why purchase originations are expected to grow by 11% to $1.47 trillion in 2024.
📊 Mortgage rate forecast! Get the scoop on MBA's baseline forecast, projecting mortgage rates for 2024 and beyond.
🏡 First-time homebuyers' advantage! Joel Kan, MBA's deputy chief economist, shares positive news for those entering their prime homeownership years.
🏭 Production side insights! Marina Walsh, vice president of industry analysis at MBA, discusses production losses and their impact on the mortgage industry.
💰 Servicing sector changes! Learn about the challenges facing lenders in 2024, including rising delinquency rates.
Stay informed about the real estate market's twists and turns in 2024. Don't forget to like, share, and subscribe for more valuable updates! #RealEstate #HousingMarket #MBA #2024Predictions #mortgagerates
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