AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Mortgage Debt Still Growing Fast.
New York -- Single-family residential debt, a market that totaled less than $2 trillion in 1986, passed the $8 trillion mark last year, according to Fannie Mae.
And economists at the secondary market giant expect the growth to continue to exceed overall economic growth, though the pace of growth in mortgage debt outstanding may slow.
During the first quarter of this year, mortgage debt grew at an annualized pace of 9.5% to reach $8.281 trillion, up from $8.071 trillion at the end of last year, Fannie Mae chief economist David Berson told Mortgage Servicing News.
At the end of last year, conventional mortgage loans accounted for 92% of single-family debt outstanding, FHA for 5% and VA loans for 3%.
During 2004, single-family mortgage debt increased by nearly $1 trillion over the course of the year.
Mr. Berson said mortgage debt has grown at a double-digit clip for seven straight years, rising 12% in 2003, 12.6% in 2003 and 13.9% in 2004.
He said strong home sales, rising home prices and low interest rates have been the biggest drivers of that trend.
- Fannie Mae setting record pace in mortgage financing. (Federal National...
- Magazine article from: American Banker Adler, Lynn K. June 11, 1992 700+ words
...investor relations at Fannie Mae. Adding to Mortgage Debt Many homeowners that...car, for example, the Fannie Mae official explains. This...created a lot of the mortgage debt" that's pumped Fannie Mae's mortgage business...
- Fannie Mae Reports Record 2001 Financial Results; Operating Net Income of...
- Press release article from: PR Newswire January 14, 2002 700+ words
...term trend for Fannie Mae's earnings would...growth in residential mortgage debt outstanding...over this period Fannie Mae expects to continue...exceed the growth in mortgage debt. Raines said that Fannie Mae's financial performance...
- Is Fannie Mae's Stock Price Depressed?
- Magazine article from: National Mortgage News February 24, 2003 700+ words
...should be a positive for Fannie Mae and Freddie Mac. Mr...chief will conclude that Fannie Mae and Freddie Mac are well...oversight in the past. Mortgage debt outstanding is projected...double this decade, and Fannie Mae is well positioned to...
- Fannie Mae Offers Older Owners New Loan Program
- Newspaper article from: The Washington Post November 18, 1995 700+ words
...who own their home," Fannie Mae Vice Chairman Frank Raines...independent," he said. Fannie Mae said people age 62 and...homes or have very low mortgage debt remaining will be eligible...participating lenders. Fannie Mae is a congressionally...
- Fannie Mae, at 50, Is Thinking Young
- Newspaper article from: The Washington Post Kenneth R. Harney February 13, 1988 700+ words
...don't be surprised if Fannie Mae comes out with a striking...now "inevitable" that Fannie Mae would plunge into the...making breakthroughs. mortgage debt. This is the classic...poor" situation. Fannie Mae's response, said Maxwell...
- Mission Residential Secures $100mm Fannie Mae Debt Facility.
- Press release article from: Business Wire December 17, 2007 700+ words
...secured a $100-million Fannie Mae debt financing commitment...of the nation's leading Fannie Mae DUS[R] lenders. Under terms of the agreement, Fannie Mae will provide permanent first mortgage debt financing to Mission under...
- Fannie Mae turns 50 with ideas for future
- Newspaper article from: Chicago Sun-Times Kenneth R. Harney February 12, 1988 700+ words
...Mortgage Association (Fannie Mae) said in an exclusive...it was inevitable that Fannie Mae would plunge into the...income, but little or no mortgage debt. This is the classic...poor" situation. Fannie Mae's response, Maxwell...
- Fannie Mae Reports Record First Quarter 2002 Financial Results; Operating Net...
- Press release article from: Business Wire April 15, 2002 700+ words
...in America. Outlook Fannie Mae's Executive Vice President...expect that growth in Fannie Mae's operating earnings...term, Howard said, Fannie Mae should benefit from strong growth in residential mortgage debt, which the company expects...