U.S. Default Would Cause Mortgage Rates to Top 8% | Hot Sheet 05/12/23
BAM Hot Sheet
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Mortgage Banker Association Expects Home Prices to Fall 0.6% This Year
Mortgage Banker Association and trade groups latest forecast has home prices falling 0.6% this year. Fannie Mae now projects that we will fall 1.2% in 2023, even though they are showing us home month over month increase. Morgan Stanley expects home prices to fall 4%, Goldman Sachs calls for 6%. KPMG, the big four accounting firm, expects that prices will fall 8%.
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