Mortgage rates forecast

The home price increases and the ongoing inventory shortage made buying conditions difficult and many think it’s only getting more challenging, according to RealtyTrac.

A rising — but still small — share of borrowers believe interest rates and housing price appreciation will fall in the next year, according to Fannie Mae.

Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.

Officials have pledged to maintain bond buying until the economy shows "substantial further progress" on inflation and employment as it recovers from COVID-19.

The adverse market fee change could contribute to an increase in refinance volume, adds Mortgage Bankers Association economist Mike Fratantoni.

The GSE forecasts $4 trillion in production this year because refinance activity is stronger than expected.

Still, the average time a property is on the market is at an all-time low, with more than half going into contract within two weeks.

The dynamic between housing market players diverged to an even greater degree amid intense demand and surging home prices, according to Fannie Mae.

While purchasing power grew for the 16th straight month in April, surging property values and increased mortgage rate forecasts will keep driving down affordability, according to First American.

Median home prices are higher than the historical average in 61% of U.S. counties, Attom Data Solutions said, and it's unclear if the situation gets better or worse.