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Tag Archives: Housing Market

Fannie Mae’s 2015 Economic Forecast Unchanged Despite Q1 Setback

forecast

In the ESR's April 2015 Economic Outlook released Monday, the projection for economic growth in 2015 held steady at 2.8 percent despite a downward adjustment for Q1 growth from the prior forecast. However, Fannie Mae is expecting some volatility in financial markets due to the Federal Reserve's expected interest rate increase later in the year.

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Fed Reports ‘Steady to Improving’ Residential Real Estate Activity in Most Districts

The districts of Richmond, Chicago, and Dallas reported that residential mortgage demand, particularly in the area of refinancings, grew during the period, while New York reported steady growth. Delinquencies were down or at low levels in New York and Cleveland, while Philadelphia and Kansas City bankers expressed confidence in the quality of their loan portfolios, according to the Fed.

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Based on Recent Signs, Analysts Still Hold High Hopes for Housing Recovery in 2015

Economists at both Fannie Mae and Freddie Mac have stuck to their predictions that housing will recover in 2015 despite receiving recent reports of slower-than-expected economic growth in the first quarter, including job gains that fell well short of expectations in March. "We remain comfortable with our call that the Fed funds rate lift-off will occur in September," Fannie Mae chief economist Doug Duncan said last week. "The setback in the hiring picture is in line with consumer sentiment regarding the housing market from the Fannie Mae National Housing Survey."

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Q1 Economic Slowdown Does Not Deter Freddie Mac’s Positive Forecast for Housing

forecast

Freddie Mac's April prediction for GDP growth of 2.6 percent is a slight decline from March's forecast of 2.8 amid disappointing incoming data from the first quarter and harsh winter weather. This did not put a damper on Freddie Mac's overall forecast for housing, however. In fact, the title of the report, "Great Expectations," indicated that analysts at Freddie Mac still believe 2015 will be the best year for housing since the pre-recession days.

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Latest Real Wage Growth Could Spell Good News for Housing

In the real earnings report for February 2015, the BLS reported that real average hourly earnings – hourly earnings adjusted for inflation – increased by 22 cents year-over-year from $10.32 to $10.54 year-over-year, an increase of 2.1 percent, despite a drop by one cent from January's average of $10.55.

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