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Freddie's Economic Revisions Optimistic for Housing

Thursday, February 19, 2015

Freddie Mac's economists have revised many of their earlier estimates for the 2015 U.S. economy.  In terms of overall economic growth the revisions are not positive as they see a slowing of "the torrid pace in the third quarter of 2014," but their new projections are good news for housing, with lower rates and a higher level of mortgage originations.

Leonard Kiefer, Freddie Mac's Deputy Chief Economist, said in February's edition of the U.S. Economic & Housing Outlook, that there is considerable tension in interest rates.  While it is expected that the Federal Reserve will begin raising short-term rates this year, the prevailing theory is between mid-year and the third quarter, long term rates have fallen from their peaks in 2014.  Ten-year Treasuries have declined by about ½ percentage point since October, twice reaching as low as 1.68 percent, the lowest rate since 2012.


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