WASHINGTON - Fannie Mae says the first quarter will prove to be the bottom of the mortgage market this year. David Berson, its chief economist, says that even though the economy is slowing, homebuying and mortgage lending will rally for the rest of the year.

That's because fixed mortgage rates are falling, consumers remain confident, and employment is relatively strong, Mr. Berson said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.