Housing starting year on soft note, says Fannie Mae

Housing

HousingBy Jann Swanson | Mortgage News Daily

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.

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Related: Fannie, Freddie to Cut Mortgage Balances for Thousands of Homeowners

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