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Fannie Mae: Housing Starts to Triple by 2013
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Fannie Mae: Housing Starts to Triple by 2013
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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Fannie Mae: Housing Starts to Triple by 2013
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February 22, 2011 (Shirley Allen)
mortgage-housing-starts-image
Despite data indicating otherwise, Fannie Mae is predicting that it expects housing starts to triple by 2013. According to the agency’s economic outlook, housing starts are predicted to increase 17.3 percent and hit 710,000 this year, with another 47 percent increase to 1.1 million in 2012 and another gain of 42 percent in 2013 to nearly 1.5 million.

However, based on January’s data, their prediction may be a little over optimistic. Data in January saw housing starts jump 15 percent compared to December for a total of 596,000 seasonally adjusted units, but building permits were down 22.4 percent, which is a sign of future building activity.

The highlight of the January housing report is the robust 80% gain in multi-family housing as single-family home construction dropped 1 percent compared to December. Multi-family construction is expected to increase as the housing crisis and tighter lending standards increase the number of renters.

In 2010, there were approximately 587,000 housing starts, that includes single family and multi-family units.

“We expect a small rise in home sales this year, but significant amounts of supply and shadow inventory of expected foreclosures will continue to hamper a robust housing picture for some time,” said Doug Duncan, Fannie Mae’s chief economist.

Fannie Mae projects total sales of new and existing homes to climb 4.5% in 2011 to 5.43 million, following an estimated decline of 6% for 2010 to about 5.2 million from 5.53 million for 2009. Mortgage originations will drop to $1.04 trillion this year from $1.53 trillion last year. Fannie Mae also expects mortgage rates will increase in 2011, but with rates remaining under 5.5 percent.

The median new home price in 2011 is expected to drop, as is the median existing home sale price, down 2.1% to $214,500 and 2.1% to $167,900, respectively, due to the large amount of competing foreclosures expected to enter the housing market this year.

Tags: fannie mae, housing starts, new and existing home sales, median home price, mortgage rates, mortgage originations

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Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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Tips
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Tips
About
Mortgages
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Calculator
Mortgage
Rates

February 22, 2011 (Shirley Allen)
mortgage-housing-starts-image
Despite data indicating otherwise, Fannie Mae is predicting that it expects housing starts to triple by 2013. According to the agency’s economic outlook, housing starts are predicted to increase 17.3 percent and hit 710,000 this year, with another 47 percent increase to 1.1 million in 2012 and another gain of 42 percent in 2013 to nearly 1.5 million.

However, based on January’s data, their prediction may be a little over optimistic. Data in January saw housing starts jump 15 percent compared to December for a total of 596,000 seasonally adjusted units, but building permits were down 22.4 percent, which is a sign of future building activity.

The highlight of the January housing report is the robust 80% gain in multi-family housing as single-family home construction dropped 1 percent compared to December. Multi-family construction is expected to increase as the housing crisis and tighter lending standards increase the number of renters.

In 2010, there were approximately 587,000 housing starts, that includes single family and multi-family units.

“We expect a small rise in home sales this year, but significant amounts of supply and shadow inventory of expected foreclosures will continue to hamper a robust housing picture for some time,” said Doug Duncan, Fannie Mae’s chief economist.

Fannie Mae projects total sales of new and existing homes to climb 4.5% in 2011 to 5.43 million, following an estimated decline of 6% for 2010 to about 5.2 million from 5.53 million for 2009. Mortgage originations will drop to $1.04 trillion this year from $1.53 trillion last year. Fannie Mae also expects mortgage rates will increase in 2011, but with rates remaining under 5.5 percent.

The median new home price in 2011 is expected to drop, as is the median existing home sale price, down 2.1% to $214,500 and 2.1% to $167,900, respectively, due to the large amount of competing foreclosures expected to enter the housing market this year.

Tags: fannie mae, housing starts, new and existing home sales, median home price, mortgage rates, mortgage originations

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

February 22, 2011 (Shirley Allen)
mortgage-housing-starts-image
Despite data indicating otherwise, Fannie Mae is predicting that it expects housing starts to triple by 2013. According to the agency’s economic outlook, housing starts are predicted to increase 17.3 percent and hit 710,000 this year, with another 47 percent increase to 1.1 million in 2012 and another gain of 42 percent in 2013 to nearly 1.5 million.

However, based on January’s data, their prediction may be a little over optimistic. Data in January saw housing starts jump 15 percent compared to December for a total of 596,000 seasonally adjusted units, but building permits were down 22.4 percent, which is a sign of future building activity.

The highlight of the January housing report is the robust 80% gain in multi-family housing as single-family home construction dropped 1 percent compared to December. Multi-family construction is expected to increase as the housing crisis and tighter lending standards increase the number of renters.

In 2010, there were approximately 587,000 housing starts, that includes single family and multi-family units.

“We expect a small rise in home sales this year, but significant amounts of supply and shadow inventory of expected foreclosures will continue to hamper a robust housing picture for some time,” said Doug Duncan, Fannie Mae’s chief economist.

Fannie Mae projects total sales of new and existing homes to climb 4.5% in 2011 to 5.43 million, following an estimated decline of 6% for 2010 to about 5.2 million from 5.53 million for 2009. Mortgage originations will drop to $1.04 trillion this year from $1.53 trillion last year. Fannie Mae also expects mortgage rates will increase in 2011, but with rates remaining under 5.5 percent.

The median new home price in 2011 is expected to drop, as is the median existing home sale price, down 2.1% to $214,500 and 2.1% to $167,900, respectively, due to the large amount of competing foreclosures expected to enter the housing market this year.

Tags: fannie mae, housing starts, new and existing home sales, median home price, mortgage rates, mortgage originations

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.