Keeping Current Matters Top 10 Slides From 2016-02

Average Days on the Market By State

NAR

June July August September October November December

4949

4646

47

4848

Average days needed to close a loan…49 days is the longest time needed to close a loan since February 2013

All closed loans as per Ellie Mae

Dec Jan-15 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

3.03.02.9

3.2

3.53.5

4.0

3.0

4.0

3.8

3.33.2

3.0

New Homes Selling Fast(median months from completion to sold)

Census

Jan 2012 Jan 2013 Jan 2014 Jan 2015

Percentage of Distressed Property

Sales

35%

8%11%

NAR 1/2016

January 2012 - Today

…according to the First-Time Buyer Mortgage Share Index by AEI’s International Center on Housing Risk

57%of all buyers were first time buyers

this month

AEI’s International Center on Housing Risk

First Time Home Buyers

$300

$350

$400

$450

$500

$550

$600

$650

$700

$750

$800

$850

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Median Asking

RENT since 1988

Census

Quicken Loans

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan-16

-1.8-1.87-1.98-2

-2.65

-2.33

-1.4

-1.15

-0.69

-0.4

-0.13

0.18

Appraiser Home Value Opinions Compared to Homeowner Estimates

Last 12 Months

2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3

Freddie Mac

Mortgage Rates Freddie Mac 30 Year Fixed Rate

- Actual - Projected2015

2016

2017

“In many markets, mortgage rates would have to be

7, 8, 9, even 10% for the cost of owning to roughly equate to the cost of renting. So the financial advantage forhome ownership will still persisteven if mortgage rates rise.”

Ralph McLaughlin Chief Economist at Trulia

“If at today’s interest rates and house prices they can find the house that can fit their budget, they should buy.”

Doug Duncan Fannie Mae’s Senior VP and Chief Economist

Difficult Easy

Respondents who think it would be … to get a home mortgage today.

Fannie Mae HPSI

This research suggests that there are too many eligible homebuyers sitting on the sidelines due tomisperceptions or anxietyabout being turned down for a loan.

Fannie Mae

All Buyers Repeat Buyers 1st Time Buyers

6%

14%

10%

Typical Down Payment

NAR