Home Mortgage

Home prices to decline in 2023, recession ahead: Fannie Mae forecast

Fannie Mae forecasted that home prices will fall in 2023 and that GDP could contract once again at the end of this year. And while it predicted that a recession next year could be mild, it said there are still risks that could create a larger financial crisis.

Mortgage rates top 7%, highest since 2002

The interest rate hikes by the Federal Reserve intended to quell inflation are affecting mortgage rates, causing them to rise and leading to more homebuyers being sidelined.