Manufacturing Industry
Economic forecast and data report. (Special Advertising Section).(mortgages and real estate)
Professional Builder (1993), July, 2003
Mortgage Rate Decline to Keep Housing Nearly Steady Through 2004 Housing peaked around year-end for this business cycle, but the Federal Reserve's aggressive cheap-credit policy means only a marginal decline in activity through 2004. Within six months the fading impact of lower mortgage rates will be supplemented by sustained gains in employment that boost some marginal prospective buyers from not qualified to qualified with lenders.
The financial scandal that caused the second-largest mortgage financier, Freddie Mac, to dismiss its three top officers is not expected to raise mortgage rates more than briefly. The company is charged with understating profits to show steady quarter-to-quarter results to its lenders. This is not an Enron or WorldCom...
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