Fannie Mae Sees Housing Starting Year on Soft Note

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Posted To: MND NewsWire

Fannie Mae’s Economic Summary for March reports an improvement in financial market conditions and reduced concerns about an imminent risk of recession but did not materially change the company’s outlook since its February forecast. Its economists still expect the economy to grow by 2.0 percent this year and say that the full impact of the earlier rise in the dollar and the plunge in oil prices have not fully passed through the system. Weakness in net exports and nonresidential fixed investments in equipment and structures related to energy exploration and development will continue to weigh on growth. Job growth continues strong and is more than sufficient to keep up with growth in the working age population. Average hourly earnings and the average work week both fell after encouraging improvements…(read more)

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