Boston, MA 07/09/2013 (wallstreetpr) – According to new data released from the monthly survey of the Federal National Mortgage Association (OTCBB:FNMA), home prices and mortgage rates are expected to climb up to higher levels, as numerous home buyers are entering into the market. The secondary mortgage financing company conveyed that around 57 percent of the total of 1007 Americans surveyed by the company admitted that housing prices are expected to climb in the next 12 months. On the other hand, when the survey was released for the month of May 2013, only 55 percent of the total sample expected the housing prices to increase and 46 percent of the polled Americans expected that the mortgage rates would increase.
Furthermore, the survey also revealed that around 56 percent of the Americans polled expect the rental prices to increase in the next 12 months, 72 percent of the sample conveys that it is the right time to purchase new homes and 36 percent of the Americans polled feel that it is a good time to sell the houses. It was further expected that the average rental prices for the next 12 months are expected to increase by 4.6 percent.
Shares of the Federal National Mortgage Association (OTCBB:FNMA) gradually surged by 3 percent on Monday. The government-sponsored secondary mortgage association traded in the price range of $1.68 to $1.78 per share for the first day of the week. Federal National Mortgage Association (OTCBB:FNMA) further recorded an average trading volume of 71.37 million shares per day and currently has a market capitalization of $2.95 billion. As for the equity ownership structure, the company currently has 1.71 billion shares outstanding in the market with around 7 percent of its total equity capital under institutional ownership.
