""Nobody's feeling exuberant about the housing market or the mortgage market right now, but it's a little better than these last couple of years, which have been truly very difficult for a lot of our members," said MBA chief economist Mike Fratantoni."
""The MBA is dropping its 2025 growth forecast for gross domestic product (GDP) to just 0.3% as a result of trade policies and downstream issues resulting from them.""
The Mortgage Bankers Association (MBA) has revised its existing-home sales forecast down to 4.341 million for March, alongside a dip in origination estimates to $1.406 trillion. However, refinance volume expectations have improved from $663 million. Chief economist Mike Fratantoni acknowledged economic uncertainty affecting the housing and mortgage markets, yet maintains a cautiously optimistic tone compared to previous years. Additionally, the forecast for mortgage rates in late 2025 has slightly increased to 6.6%. Consequently, GDP growth for 2025 has been adjusted down to 0.3% because of shifting trade policies.
Read at www.housingwire.com
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