Garland is concerned that the challenging start to the spring buying season could carry over into the summer.
George Carrillo of Hispanic Construction Council sees cautious optimism in Fannie Mae’s forecast, noting rising home prices and originations—but warns trade volatility may disrupt progress. https://t.co/FbWAra7sob
— Mortgage Professional America Magazine (@MPAMagazineUS) May 12, 2025
“I think the general concern is the general lack of confidence in the economy from consumers is going to create a very anemic summer buying season,” Garland said. “What we think of as turnover, which is consumers who are moving, they tend to pull back when they’re worried about jobs, and they’re worried about other costs that they’re facing.
“April is the beginning of this, and it peaks usually around late July to mid-August, as people try to get into homes before school starts. We very well might see a very weak market for people moving in the summer months, which tend to be the really big months.”
Adding to the uncertainty is the news of possible cutbacks at Fannie Mae and Freddie Mac, a report denied by the Trump administration. However, with rumors of privatization still on the table, Garland believes it is another piece to the puzzle of uncertainty.
“It’s not even the fact that the uncertainty is so pervasive,” Garland said. “It’s uncertainty in areas that we don’t normally have uncertainty. There was a short window in 2009 when we weren’t sure what was going to happen with Fannie and Freddie, and the US government came in and took them under government control.