Freddie Mac Claims Better Days Ahead In Housing
Freddie Mac Chief Economist Frank Nothaft said mortgage rates will likely remain historical lows of between 4.5 percent and 5 percent for the remainder of the year. Also, he expects more buyers to stop waiting on the sidelines as recent price drops in home prices have improved affordability. Nothaft said consumers’ uncertainty about the economy has caused them to delay home purchases and other “big-ticket items.” 'Some potential buyers who have the means to buy are awaiting clearer signs that home values have firmed,' Nothaft says. But Nothaft says they should be getting their signs in the second half of the year, with projected job gains, and a growing, improved economy. Read more.