The 2012 economic and housing outlook is positive
Posted on Wednesday, February 29, 2012 at 4:27:45 PM
According to the U.S. Economic and Housing Market Outlook for February 2012, the economy and housing market are both moving in a positive direction. The real estate market is showing improvements across a variety of sectors such as a historically low 30-year fixed-rate mortgages under four percent, increased residential financing options and a more competitive market as housing inventory declines.
"The US economy continues to build on the momentum from the end of last year. Our outlook anticipates gradual, but steady, improvement in the economy and the housing market, supported by low interest rates and brightening job market prospects," said Frank Nothaft, Freddie Mac, vice president and chief economist.
For first-time homebuyers or consumers looking to upgrade to a new home, the increasingly positive housing market offers a wide variety of opportunity. Those equipped with a steady income, decent down payment and have been approved for home financing loans may find themselves having trouble making a decision with such a diverse and available inventory.
Consumers may wish to explore and research their residential financing options and the properties on the market.