According to Forbes Advisor, the last few years have seen plummeting numbers of mortgage applications, largely as a result of extremely high mortgage rates. Read more: https://ryanmahoneydubai.wordpress.com/2024/01/25/real-estate-trends-predicted-for-2024/

1. Volume and Housing
Inventory
RYAN MAHONEY
Real Estate Predictions 2024: Mortgage Origination

2. Real Estate
According to Forbes
Advisor, the last
few years have
seen plummeting
numbers of mortgage
applications,
largely as a result
of extremely high
mortgage rates.
2 Ryan Mahoney
However, with rates showing signs of coming
down, it’s predicted that mortgage origination
volume will increase from the anticipated
$1.64 trillion at the end of 2023 to $1.95
trillion by the end of 2024, with rates expected
to come down to near 6% in tandem. Single-
family mortgage originations especially are
expected to make a slow but meaningful
recovery throughout the year ahead.
However, this scenario is contingent on
continued improvements in the inflation
situation. If inflation begins to rise again,
mortgage rates could stay higher for longer. If
inflationdoesn’tcontinuetofall,ahigherinterest
rate environment will, in all likelihood, persist.
Mortgage Origination
Volume and Housing
Inventory
Real Estate Predictions 2024:

3. Real Estate
3
Ryan Mahoney
Housing Inventory
Forecast
While housing stock remains at a near
historic low, there are some hopeful signs
for 2024. Home-builder outlook, which has
been declining, is starting to see a recovery
due to enhanced building conditions and
decreasing mortgage rates. Added to this,
single-family building permits saw a slight
uptick at the end of 2023, another positive
indication for a recovery of the housing
inventory in 2024.

4. For more information about this topic, visit
the blog of Ryan Mahoney of Dubai, UAE.