Freddie Sees Housing Standing Out Amid Slowing Economy

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Posted To: MND NewsWire

As Fannie Mae did earlier in its May Economic Summary, Freddie Mac today downgraded its outlook for economic growth for the remainder of 2016. And like its sister GSE, Freddie called housing a “bright spot” in the economic outlook and one that should propel the economy forward for the balance of the year. The analysis was published in the Freddie Mac’s monthly Economic and Housing Research Outlook. For the third year in a row the economy “has sputtered out of the gate with the GDP growing only 0.5 percent in the first quarter. Freddie Mac’s economists say the weakness can be attributed to nonresidential fixed investment, which dropped 5.9 percent on a seasonally adjusted annual basis, the biggest downturn since 2009, and trade and inventory corrections. Housing, however, remains on track for…(read more)

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