Things Looking Up for Housing Market in Last Half of 2011
Here's another great article brought to you courtesy of Old Republic Title Insurance:
An improved employment forecast for the remainder of the year will help improve the housing picture as well, according to Frank Nothaft, chief economist for Freddie Mac.
Nothaft said he anticipates an unemployment rate of 8.6 percent by the end of the year, down from more than nine percent. Mortgage rates will likely remain between 4.5percent and five percent.
The economist noted that more financing is becoming available to the rental housing construction sector and that vacancy rates are falling and rents rising, all harbingers of a housing turnaround.
An improved employment forecast for the remainder of the year will help improve the housing picture as well, according to Frank Nothaft, chief economist for Freddie Mac.
Nothaft said he anticipates an unemployment rate of 8.6 percent by the end of the year, down from more than nine percent. Mortgage rates will likely remain between 4.5percent and five percent.
The economist noted that more financing is becoming available to the rental housing construction sector and that vacancy rates are falling and rents rising, all harbingers of a housing turnaround.
Comments
Post a Comment