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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 68 May 2024 J O U R N A L prices will go up in the next 12 months decreased from 42% to 40%, while the percentage who say home prices will go down decreased from 23% to 20%. The share who thinks home prices will stay the same increased from 34% to 38%. As a result, the net share of those who say home prices will go up in the next 12 months increased 1 percentage points MoM. Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 35% to 29%, while the percentage who expect mort- gage rates to go up increased from 32% to 34%. The share who thinks mortgage rates will stay the same increased from 32% to 36%. As a result, the net share of those who say mortgage rates will go down over the next 12 months decreased 8 percentage points MoM. Job Loss Concern: The percentage of respondents who say they are not con- cerned about losing their job in the next 12 months decreased from 78% to 77%, while the percentage who say they are concerned increased from 22% to 23%. As a result, the net share of those who say they are not concerned about losing their job decreased 2 percentage points MoM. Household Income: The percentage of respondents who say their household income is significantly higher than it was 12 months ago remained unchanged at 19%, while the percentage who say their household income is significantly lower increased from 11% to 12%. The percentage who say their household income is about the same decreased from 70% to 68%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago decreased 2 percentage points MoM. "We noted in our latest monthly forecast that we expect to see a gradual increase in home listings and sales trans- actions in the coming year," Duncan said. "We believe this will be driven not only by those coming off the sidelines due to a rate-related recalibration, but also by households who may need to move for other life reasons." Consumers anticipate a 6.7% average increase in rental prices over the next year, with a monthly increase of 0.5 percentage points. Over the next year, home prices are predicted to rise by 1.6% on average, up 0.5 percentage points from the previous month. CSBS AND FHFA ENTER INTO INFORMATION- SHARING AGREEMENT T he Conference of State Bank Su- pervisors (CSBS) and the Federal Housing Finance Agency (FHFA) have entered into an agreement designed to facilitate information sharing with respect to nonbank mortgage companies. The Memorandum of Understand- ing (MOU) between the two groups establishes sharing protocols between state financial regulators and the FHFA, improving the ability to coordinate on market developments, identify and miti- gate risks, and ultimately, further protect consumers, taxpayers, and the nation's housing finance system. Pictured above, CSBS President and CEO Brandon Milhorn, FHFA Director San- dra L. Thompson, and CSBS Board Chair Lise Kruse sign the historic agreement. Developing Crucial Framework "The development of an informa- tion sharing framework is an important milestone that will better equip both FHFA and state regulators to oversee our respective regulated entities," FHFA Di- rector Thompson said. "Improved com- munication leads to better coordination, which in turn leads to better outcomes for consumers, market participants, and taxpayers." CSBS is an organization of financial regulators from all 50 states, American