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Freddie Mac: Don't Count Refinancing out yet

Wednesday, February 3, 2016

Freddie Mac's economists are expressing concerns about what they see as economic headwinds revealed by some recently released indicators.  In their current edition of Insight and Outlook the company downgraded its full year estimate for 2015 real GDP growth by a tenth of a point to 1.9 percent while calling the current expansion the weakest in postwar history.  They project growth in 2016 and 2017 at 2.5 and 2.3 percent respectively making them the sixth and seventh years of sub-3 percent growth.

The economists base their negative outlook on several factors, global growth, particularly in China; disappointing automotive and retail sales and wage growth, and energy prices.  Their negative outlook, however, does not extend to housing.


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