Fannie Mae Predicts Home-Sale Slowdown(December 21, 2005) --
Fannie Mae expects rising interest rates and concerns about a weakening housing market to push home sales down by upwards of 10 percent in the coming year.
Although it would mark the first decline in five years, sales would still reach the third-highest level on record. In the mortgage arena, Fannie Mae economists David Berson and Molly Boesel anticipate a 2.3 percent drop in originations to $1.45 trillion, with refinancing down 51.6 percent to $653 billion.
They also predict an end to double-digit home-price gains, with the national appreciation rate falling to a more modest 3 percent.
Source: Miami Herald (12/21/05)
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