Posted To: MND NewsWire
The Brexit decision continues to reverberate and Freddie Mac, in its current issue of Outlook sees it as both a plus and a minus for the U.S., and not necessarily a short-lived one. The company’s economists predict it will raise global risks while keeping domestic mortgage rates near historic lows. That, in turn, will raise mortgage originations. Brexit aside for the moment, for the second time in as many months Freddie Mac raised its estimate for the first quarter 2016 Gross Domestic Product (GDP). Its initial estimate of 0.5 percent growth had previously been revised to 0.8 percent and now to 1.1 percent. Upward revisions to growth in exports and nonresidential fixed investment were primary drivers of the revisions and the report says this newest figure suggests the start of 2016 was not…(read more )