SOURCE: Mortgage News Feed
Fannie Mae has released its April 2016 Economic & Housing Outlook, which sees little change for 2016, despite a slow first-quarter scenario. That may sound good on the surface, but there remains some additional concern over the key housing component for the economy. The report’s tag line is “Economic Growth Outlook Remains Little Changed Despite First-Quarter Stall.” If things are just fine, it may seem at least a bit puzzling why Fannie Mae sees mortgage originations declining by about 9% in 2016. Fannie Mae’s forecast from its Economic & Strategic Research Group showed that consumer and business spending and net exports came in below expectations, and trade, inventory and business investment likely weighed heavily on gross domestic product (GD) in the first quarter. Read Full Article Here >>
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