In this episode, Doug Duncan digs deeper into Fannie Mae’s housing forecast, focusing on the role of markets in allocating resources, specifically in interest-rate buydowns, for first-time homebuyers in response to higher interest rates.

Last week, we discussed the 3 drivers of the housing market: demographics, employment, and affordability. This week, Pat Flood asks Fannie Mae’s Chief Economist, Doug Duncan, what is keeping the marketplace from being at a normal or better-than-normal housing cycle?

With the average 30-year fixed mortgage rate around 8%, the highest since 2000, home affordability is at its worst level since at least 1989. In this episode, Pat Flood breaks down the components of US home affordability: income, home prices, and interest rates.

In this clip, Doug Duncan offers context to the current interest-rate environment and the changes it will require in an industry that hasn’t operated in a rising-rate environment for 40 years.

In this clip, Doug Duncan, Chief Economist for Fannie Mae, brings insights into the structural realities of the housing market that supersede forecasts, whether optimistic or pessimistic.

After 11 interest-rate hikes and credit card debt reaching historic levels, why is the US Economy not already in a recession? Armed with the latest data from Fannie Mae’s economic team, Doug Duncan brings insight to this common question.

Doug Duncan joined Supreme Lending for a housing update on the heels of the recent Federal Reserve decision not to raise interest rates. In this excerpt, Doug offers further insights into the Fed’s current thinking, including optimism around the strength of consumer spending and new housing construction.

All of us make commitments in life. In our relationships, our health, and our finances. We commit to having fun, to our faith and communities, and, finally to our professional development. But, each of those commitments will be tested. Join us for Personal & Professional BEST on Thursday, August 24th at 3 PM as I sit down with a US Navy Seal to discuss the radical commitment it takes to overcome any challenge in pursuit of BEST.

Historically, it takes a recession to combat inflation, and inflations are accompanied by significant unemployment. Although it has been a painful season, it is now more likely than ever that our economy might pull off a pretty impressive feat, combatting inflation without a prolonged, painful recession…Allowing more of our friends and neighbors to remain employed. In this episode, Pat Flood discusses why we may have seen the peak of mortgage interest rates and discusses when we can all celebrate lower interest rates again.

After a promising jobs report last Friday, all eyes are on the upcoming CPI report as a final indicator that the Federal Reserve can finally halt its interest-rate-hiking campaign.

Last week, the Federal Reserve once again raised short-term interest rates by 25 basis points. Some experts predict another rate increase later in 2023. However, mortgage rates are not expected to be significantly impacted, as they are already near their peak. In this episode, Pat Flood shares historical data to give context to the current rate environment and indicators that could lead to interest rate relief.

In challenging professional seasons, you can either exit the business or provide additional value. Many have already left the real estate and housing finance industries this last year, and there will be many more to come. Those that remain must be committed to offering more value. However, value isn’t just about price. In today’s episode, Pat shares a simple formula the BEST brands utilize to offer more value to their customers.