My Real Estate Blog

March 22nd, 2010 7:36 AM
There have been a couple of scary concerns floating around for a while now:

1) Some Wall Street 'experts' say we're headed for a double dip in the economy and we're headed back in to a recession.
2) If the Federal Reserve stops buying mortgage securities then interest rates are going to spike up.

 Those are scary possibilities. But last week one of the country's most accurate economic and housing forecasters came out with projections for the balance of the year that basically said: None of that scary stuff is going to happen. 

Instead, Freddie Mac calls for "a very steady, quarter to quarter growth" pattern ahead, with no "double-dip" mini-recession hurting real estate, and only minor increases in interest rates with the average 30-year mortgage rates around 5.6 percent by the end of the year.

In a separate forecast last week, economists at the Mortgage Bankers Association predicted employment gains of 75,000 to 80,000 a month on average nationwide for the balance of the year - a sharp contrast to the 400,000 and higher monthly losses typical last year.

Bottom line here: Look for steady, moderate improvements ahead, nothing spectacular, but good enough to keep real estate headed in the right direction.

Posted by Jim McCowan on March 22nd, 2010 7:36 AMPost a Comment (0)
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

Jim McCowan 4600 Lee Highway Arlington, VA 22207
Phone: Cell: Fax:

Curb Appeal List | Setting the Sales Price | Free Home Valuation | First Time Buyers | Get Pre-qualified | Home Buyer Checklist | Looking to Buy? | Looking to Sell? | Home | Writing the Offer | Staging Checklist | Buyer's Video | Seller's Video

Copyright © 2012 Jim McCowan
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.