With the unprecedented second-quarter mortgage origination volumes posted by some of the country’s largest mortgage lenders, coupled with persistent declines in mortgage rates, one might expect that qualified borrowers have been lining up to snatch up homes as they hit the market.
However, Fannie Mae Chief Economist Doug Duncan told Dodd Frank Update that despite the record mortgage origination numbers posted in the first half of this year, the mortgage market continues to battle a shortage of affordable housing options.
Get an insider’s view of the current state of the mortgage industry.