U.S. New Home Sales, Loan Supply to Fall

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00009521-us-new-home-sales-loan-supply-to-fall/

SAN FRANCISCO – U.S. new home sales and new mortgage supply are expected to fall in 2005 but will still run near historically high levels, said Franklin Raines, chief executive officer at Fannie Mae on Monday.

New home sales in 2005 will fall by 5 percent to 10 percent from 2004′s projected record high. Next year’s sales would be the third strongest year ever for new homes, Raines said.

U.S. mortgage lenders are expected to issue just under $2 trillion in loans in 2005, the fifth biggest year ever, according to Raines.

Meanwhile, he said Fannie Mae, the biggest buyer of U.S. mortgages, brings “stability and liquidity” to the mortgage market because the company manages the credit risk of loans they guarantee and packaged into securities.

For this complete story, please visit U.S. New Home Sales, Loan Supply to Fall.

U.S. New Home Sales, Loan Supply to Fall

Unknown Author

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