Freddie Mac Looks Back on 2017
2017 is coming to a close and plenty of companies are reflecting on all of the events that took place this year. Freddie Mac released a summary of its "2017 The Year in Review" and it very much sets the tone for a big 2018 ahead.
"This year was an eventful one. Home construction and sales got off to a good start, but stalled by the mid-year point," according to Freddie Mac.
"Strong demand, low mortgage rates and a lack of for-sale inventory contributed to rising home prices. Meanwhile, the market shifted from refinances to purchases. But despite challenges and changes, 2017 was the housing market’s best year in a decade."
Obvious lows somehow found a way to turn into surprising highs. Changes were made that shook up the mortgage industry, including a big October 2 shake up with principal limit factors.
The mortgage industry seems to have fought back in many ways. It wasn't just legislation that challenged the mortgage industry. There were natural disasters such as the hurricanes that wrecked Houston, Texas and parts of Florida.
Companies were quick to make changes in order to help borrowers, lenders and originators deal with the hardships of doing business during a horrific natural disaster.
All-in-all 2017 was a year filled with obstacles and companies across the board that overcame them. For more from Freddie Mac's "2017 Year in Review," click on the image above.
