Market Outlook
Is it time to fight the Fed? This veteran strategist says the central bank won’t risk a 20% drop in house prices and a 30% slide in stocks.
Associated Press
Red-hot housing market to fuel record borrowing in ’22
The fierce competition, low mortgage rates and soaring prices that helped raise mortgage borrowing to record heights last year is expected to drive lending even higher this year, experts say. Banks lent an estimated $1.61 trillion for home purchases last year, up about 9% from 2020, according to the Mortgage Bankers Association. “Strong housing demand, persistent increase in housing demand, constrained supply, increase in prices — that’s what led to that record purchase level last year,” said Mike Fratantoni, the MBA’s chief economist.
Source link