Rates make lenders bearish on purchases: Fannie

Mortgage

Rising interest rates made mortgage lenders bearish on their short-term outlook for purchase originations and that is affecting their expectations on profits, according to Fannie Mae.

Even as the mortgage lenders who believe the economy is heading in the right direction reached a new high, expectations for purchase originations in the next three months hit their lowest level since Fannie Mae started doing its Lender Sentiment Survey in the first quarter of 2014.

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