Freddie Mac economist sees sunny economy in second half

"I don’t think we’ve seen the bottom," said David Berson, chief economist for Fannie Mae. "We’re going to see a much bigger drop in investor demand this year. But by the second. for Freddie Mac..

Freddie Mac’s chief economist is optimistic that the housing market and economy will improve in the second half of 2011. 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.

When will the economy recover? Answers have fallen in the 2011 to 2014 range, depending who you talk to. Housing Wire spoke with Freddie Mac Chief Economist Frank Nothaft, who optimistically anticipates that a better economy is right around the corner in the second half of 2011, foreshadowing an improved housing market to come.

Meanwhile, Freddie Mac economist sees growth in second half of 2011. The economic recovery should accelerate gradually throughout 2011, with the second half of the year exhibiting more growth and job creation than the early part, according to Freddie Mac chief economist Frank Nothaft. Economic drivers including income growth, the unemployment rate and inflation affect housing and mortgage market performance.

Freddie Mac today announced that Sean Becketti, an executive with broad experience in the private sector, government and academia, is joining the company as vice president and chief economist.

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The 30-year fixed-rate mortgage rose as high as 4.46% in June from as low as 3.35% in May, according to Freddie Mac data. However, coming months may see. second half of this year may be getting.

“Strong economic growth, with real GDP growth close to 3 percent, should absorb most of any slack left in the labor market,” says Lynn Reaser, chief economist at Point Loma Nazarene University.

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“We’re not afraid to roll the dice, to take a leap of faith on the U.S. economy,” Gray. companies Fannie Mae and Freddie Mac, Crowe said. “We don’t even know who’s going to be president,” he said..

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