Fannie Mae’s ESR Group recently released a report indicating a more sluggish recovery for the housing market compared to earlier projections. Key points from the report include:

– Slower pace of home sales and purchase mortgage originations
– Continued impact from supply chain disruptions and labor shortages in construction
– Concerns over rising interest rates affecting affordability for buyers
– Outlook for home price growth tempered by these factors

The ESR Group’s assessment reflects a cautious approach to the housing market’s trajectory, highlighting potential obstacles to a robust recovery. Industry observers will be closely monitoring these trends as they continue to assess the overall health of the housing sector and its implications for mortgage lending and homeownership.

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