FNMA Stock Recent News

Fannie Mae now says mortgage rates will stay above 6% through 2025, after predicting last month that the average 30-year fixed mortgage would drop below 6% by the end of this year.

Federal National Mortgage Association stock is up 271%, outperforming the S&P 500 by 239%. Technical analysis suggests the stock has strong upward momentum and price targets at $3.27 and $4.22. FNMA's unique business model and recent strategic initiatives position it for growth, making it an attractive investment opportunity.

The first month of 2024 is nearing its end, but there's a lot of news buzzing around the housing market and mortgage rates. The housing market has seen gloom in 2023, and homebuyers who have priced out may have a hint of optimism this year.

Fannie Mae now sees mortgage rates dipping below 6% in 2024, anticipating a stronger housing market rebound. The 30-year fixed rate is expected to hit 5.8% by the fourth quarter, down from a previous estimate of 6.5%.

On balance, more Americans now see mortgage rates falling than rising in the year ahead. That's the first time it was happened in the history of Fannie Mae's survey.

Mortgage rates have fallen for the past nine straight weeks. Mortgage applications and new home listings have simultaneously surged.

Fannie Mae outlined its housing market forecasts through 2025, including home sales and price growth. Lower borrowing costs will boost activity, but home sales will only marginally rise higher.

November's sharp pullback in 30-year fixed mortgage rates may not last if the labor market remains strong, said Mark Palim, deputy chief economist at Fannie Mae.

Fannie Mae's forecast model expects U.S. home prices to climb 2.8% in 2024. Want more stories from Lance Lambert's ResiClub in your inbox?

U.S. homes may be wildly unaffordable for first-time buyers, but mortgage bonds backed by those same properties could be dirt cheap.