2020 Low mortgage rates will boost prices

Real Estate

Fannie Mae raised its forecast for 2020 home-price gains, saying low mortgage rates and a strong labor market will pump up demand for properties.

Single-family home prices probably will increase at a 4.6% pace this year, Fannie Mae said in a forecast on Tuesday. That compares with the 4.1% advance for 2020 the mortgage giant predicted a month ago.

The forecast is based on the Federal Housing Finance Agency‘s home-price index that measures single-family homes purchased using conventional mortgages.

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