Freddie Mac September 2015 Insight & Outlook - Seite 2

"The low homeownership rate among Millennials is still something of a puzzle -- it cannot be explained solely by the increase in student loan debt. However student debt plays a role -- higher balances are associated with a lower probability of homeownership at every level of college and graduate education. And recent data has confirmed that not all student debt is created equal. Students who attended schools with less-certain educational benefits have not fared well. Borrowers who did not complete their studies have fared worst of all. These groups are likely to continue to affect the pattern of homeownership among Millennials. Moreover, a change just this month in Federal Housing Administration policy will make it more difficult for some student loan borrowers to qualify for a mortgage."

"Our Outlook this month shows the economy has not kicked into gear yet, and the Fed's recent decision to defer increasing short-term interest rates suggests they share this view. At the same time, the housing market is on its way to having the best year since the recovery began. Keep in mind. Though. that the housing sector is coming back from rock bottom and housing activity remains weak compared to historical norms. At the same time, Fed watchers must feel they are watching a revival of Waiting for Godot. Approaching every meeting of the Federal Open Market Committee, the market braces itself for a Fed tightening, only to watch the Committee delay any action for at least one more meeting."

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.