Housing Market Continues To Support U.S. Economy

Fannie Mae reported a relatively modest growth in the economy, averaging 2.3% in the latest outlook. Though, the housing market is said to be in full swing and expected to continue to grow throughout the year, aiding the economy’s restoration. Fannie Mae’s chief economist, Doug Duncan said, “the April forecast reflects the growing realization that 2013 is off to a good start from a gross domestic product perspective, but we expect the stronger-than-expected first quarter pace to slow somewhat in the second quarter.” Meanwhile, housing permits are soaring, and low mortgage rates are expected to continue to fuel the market. More here

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