Fannie Mae: Expect Housing Expansion Next Year Despite Persistent Headwinds

first_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Economic Forecast Fannie Mae Housing Market U.S. Economy 2015-12-15 Brian Honea Tagged with: Economic Forecast Fannie Mae Housing Market U.S. Economy Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae: Expect Housing Expansion Next Year Despite Persistent Headwinds Demand Propels Home Prices Upward 2 days ago Previous: DS News Webcast: Wednesday 12/16/2015 Next: Summit Valuations Unveils a New Website for 2016 Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save  Print This Post Demand Propels Home Prices Upward 2 days agocenter_img About Author: Brian Honea Soft economic growth in Q4 to this point has done nothing to change Fannie Mae’s forecast for economic growth forecast for 2016, as current economic conditions suggest that that a long-anticipated increase in the federal funds target rate will be announced Wednesday afternoon, according to Fannie Mae’s December 2015 Economic Outlook released Tuesday.Despite persistent economic headwinds, Fannie Mae’s Economic &Strategic Research (ESR) Group is predicting real GDP growth at a rate of 2.2 percent for the entire year of 2015 in its December forecast. The rate of GDP growth is expected to rise to 2.4 percent for 2016. Both numbers are consistent with the ESR Group’s prior forecasts. Real consumer spending is expected to pick up in 2016 after slowing in Q4 amid a tightening labor market and declining gasoline prices, which the ESR group expects will offset some of those persistent headwinds.Other factors that remain downside risks to growth include the possibility of a sharp slowdown in China and other emerging market economies, a further rise in the dollar, and geopolitical turmoil, according to the ESR Group.“After a year of modest improvement, we continue to believe economic growth will close out 2015 at 2.2 percent before gaining momentum early in 2016,” said Fannie Mae Chief Economist Doug Duncan. “Overall conditions suggest the Fed will begin to raise the fed funds rate at the December Federal Open Market Committee meeting, but we don’t expect the financial markets to experience any sizable shocks as a result.”While the ESR group expects home sales to remain subdued for the near term, they noted that private residential construction has been strong in Q4 and that housing demand is up headed into 2016. The result will be an increase in total home sales for the year, according to the ESR Group.“The rebound in purchase applications suggests that sales will gain momentum in the first quarter after retreating slightly in the current quarter,” Duncan said. “For all of 2016, total home sales are projected to rise 3.9 percent. We believe that further easing of mortgage lending standards will combine with a positive household formation outlook to help the housing sector expand.”The lack of housing inventory this year has been more problematic for the existing home market, according to the ESR Group. The drop in for-sale inventory of 4.5 percent in October was the largest in two years, and only twice this in 2015 did for-sale inventory increase on a year-over-year basis. One reason for the thin existing home inventory is that institutional investors are taking advantage of the high demand for rent by holding housing units as rentals.“We do not expect the inventory crunch to ease substantially next year, and the situation could get worse if geographic mobility declines or if homeowners are locked in with low interest rate mortgages in a rising rate environment,” the ESR Group said in its report.Despite volatility in the market this year, home sales are poised to have their best year since 2007 with an increase of 7.4 percent up to 5.8 million units.Click here to view the Fannie Mae ESR Group’s site, which contains all the December 2015 data. Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago December 15, 2015 1,240 Views Home / Daily Dose / Fannie Mae: Expect Housing Expansion Next Year Despite Persistent Headwinds Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Related Articleslast_img read more

Read More

Queta, Merrill help Utah State beat San Jose State 96-54

first_img Tags: Mountain West/Neemias Queta/Sam Merrill/Utah State Aggies Basketball FacebookTwitterLinkedInEmailLOGAN, Utah (AP) — Neemias Queta had a double-double and Sam Merrill hit three 3-pointers in Utah State’s 25-2 run to open the game and the Aggies beat San Jose Sate 96-54.Queta finished with 23 points and 10 rebounds and Merrill had 18 points and seven assists. The Aggies scored the game’s first 19 points before Merrill and Brock Miller hit back-to-back 3s to take a 22-point lead with 12:36 left before halftime.San Jose State shot just 17% (5 of 29) from the field in the first half. Seneca Knight had 13 points, six rebounds and five assists for the Spartans. Associated Press February 26, 2020 /Sports News – Local Queta, Merrill help Utah State beat San Jose State 96-54 Written bylast_img read more

Read More

Governor’s Advisory Council Seeks to Fill Opening on Fish and Boat Commission

first_img Environment,  Press Release Harrisburg, PA – The Governor’s Advisory Council for Hunting, Fishing and Conservation is seeking qualified candidates to fill an unexpected vacancy on the board of the Pennsylvania Fish and Boat Commission from the Eight District, which includes Berks, Bucks, Chester, Delaware, Lehigh, Montgomery, Northampton, Philadelphia and Schuylkill counties.The district was represented with distinction by Glade E. Squires, of Downingtown, Chester County.“The Governor is reaching out to the anglers and boaters of southeastern Pennsylvania to find a diverse group of qualified applicants, one of which will fill this vacancy,” said Robb Miller, director of the advisory council.  “We’re encouraging anyone interested in volunteering on the board to send us a letter that describes their qualifications and experience, along with a copy of their professional resume.”According to the Fish and Boat Code, in order to qualify as a commissioner, the applicant must be a resident of the district and be well informed on the subjects of conservation, restoration, fishing, and boating. The term of service is four years and members may serve three consecutive terms upon being nominated by the Governor and confirmed by a majority of members of the Pennsylvania Senate.While commissioners are not compensated, they do receive a travel reimbursement.Individuals interested in applying for this seat should send the aforementioned materials to Robb Miller, 400 Market Street, 7th Floor, Harrisburg, PA 17101-2301. Individuals can also email the information to Robb Miller at [email protected] resumes and cover letters must be received by Monday, December 5, 2016. SHARE Email Facebook Twitter Governor’s Advisory Council Seeks to Fill Opening on Fish and Boat Commissioncenter_img November 14, 2016last_img read more

adminOctober 16, 2020mtjfmLeave a Comment

Read More

C-NS indoor track sweeps at Utica College meet

first_img Tags: C-NSindoor track Isaiah Wright, in 8.10 seconds, was just behind Utica Proctor’s Saleh Eltayeb (8.05) but paired with Keenan Cannon (8.42) for the team title as Carlton Garnes was fourth in 8.54 seconds.In field events, Cannon and Wright were victorious in the long jump, going 40 feet 3 ¾ inches between them, more than three feet ahead of the field. Cannon joined Travon Walker as their triple jumps of 75’7 ¾” also led to a victory.R.J. Davis was second in the individual mile in 4:39.47, just behind the 4:39 flat from Central Valley Academy’s Nolan Stone, as Davis and Owen Greco were second on the team side in 9:40.28 to CVA’s 9:35.53. A week after its twin victories at the Jack Morse Kickoff Meet, the Cicero-North Syracuse indoor track and field teams prevailed again in a different venue, and against a larger field.The Northstars were victorious at Thursday’s Mohawk Valley Indoor Track Association Individual Relays, earning 96 points on the boys side and 84 points on the girls side to outdistance more than 20 opponents on both sides.Matt LeClair’s winning 1,000-meter clocking of 2:44.61 was also part of a first-place team performance, since Evan Romano got to third place in 2:48.46.center_img Sam Nessel and Josh Adams were second in the 55-meter dash in 13.83 seconds to Proctor’s winning 13.65, with Nessel and Jordan Rhoden second (1:18.11) in the 300-meter dashJosh Koeppe and Zach Bergman were second in the 3,200-meter run (21:13.62), just behind CVA’s 21:12.23, while Justin Rhoden and Jacob Schmid cleared 10’3” between them in the high jump for second place.Evan Breitbeck and Evan Nobles fourth in the 600-meter run. Maxwell White and Matt Lentling-Raymie finished third in the shot put, going 80′ 7 1/4” between them, and were fourth in the weight throw.Moving to the girls meet, C-NS went 1-2 in the 55 sprint, Julianna Hutt winnng in 7.85 seconds and Brooke Blaisdell second in 7.92 seconds. McKenna Slate beat the field in the 300 in 44.78 and, with McKenna Johnston, nabbed team honors in 1:31.81 to CVA’s 1:31.87.On her own, Blaisdell went 16’9” to dominate the high jump as she and Hutt won with total leaps of 32’1”. Then Blaisdell and Davis had a victory in the triple jump, their best attempts adding up to 69’7 1/4”.Hannah Boyle ran to first in the 600 in 1:40.01, also getting team honors with Shannon Brown in a combined 3:32.77, while in the 3,000-meter run Kate Putman beat the field in 10:19.84 as she and Allison Newton, who finished third,had a team win in 21:30.29.Lilly Capria, clearing 4’11”, was victorious in the shot put, teaming with Madelyn Wheeler, who cleared 4’9” for third place, to get the team victory.Morgan Kingdeski and Marissa Doty were fourth in the 1,000-meter run in 6:38.57. Kuhr and Brianne Wilson took sixth in the 55 hurdles as C-NS’s girls were seventh in the one-mile relay. Stephanie Webb and Faith Keville finished fifth in the shot put.Liverpool competed for the first time at SRC Arena in last Saturday’s morning session of the Oscar B. Jensen Holiday Relays, with plenty of its own top efforts.Amina Sinclair, in the girls high jump, won by clearing 5’4”, with Alexia Ostrander third by topping 4’10”. Imahni Sinclair had a winning shot put toss of 34’6 1/4” and then unleashed a weight throw of 43’3 1/2” to dominte that event.Anne Gullo was third in the girls 55 sprint in 7.77 seconds, then taking third (44.32) ahead of Sophia Jarosz (44.56) in the 300.On the boys side, Bennett Robb won the high jump, clearing 6’2”, with Jamie Vong topping 11’6” for second place in the pole vault while also getting fourth in the shot put with a toss of 37’6 1/4”.Ryan Dewan was third in the 55 sprint in 6.99 seconds and got sixth in the long jump with 17’8 1/2” as Michael Nigro was fifth (37’2 1/2”) in the triple jump and Jalen Graham was fourth in the weight throw, going 40’4”.Share this:FacebookTwitterLinkedInRedditComment on this Story last_img read more

adminSeptember 17, 2020qhaegLeave a Comment

Read More

The event was organized by the AZ Highway 69 Chamb

first_imgThe event was organized by the AZ Highway 69 Chamber of Commerce. A special Thank You goes to Chamber President Ben Satran, who cast the original vision for this event and has supported this festival since its inception.Here is the GENERATION BAND, a group of very talented and spunky young musicians.[photo and text by Sue Kirsch]JAMES REAMS & THE BARNSTORMERS[photo by Colleen Connery]PICK & HOLLER[photo by Colleen Connery] May 4, 2015The fifth annual BLUEGRASS FESTIVAL this past Saturday was a wonderful event. During the Opening Ceremony, Colors were presented by the Cordes Lakes Memorial American Legion Post 122 and there was a warm welcome invocation by pastor Tom Thurman.[photo and text by Sue Kirsch]The weather was gorgeous and many vendors set up under the Vaults and around the Amphitheater, as well as in the renovated keystone area where the new grass lawn was welcome place to rest.The days music started with CINDER MOUNTAIN.[photo and text by Sue Kirsch]last_img read more

Read More

Chatfield Tax cuts approved by Legislature are a victory for Michigan families

first_img The state Legislature this week fulfilled one of Rep. Lee Chatfield’s top priorities, approving bills to lower income taxes for Michigan families.The bills headed to the governor preserve and increase personal exemptions for Michigan taxpayers and their dependents on state income taxes, saving families hundreds of dollars overall.“This session of the House of Representatives began in January 2017, and from the very first day I’ve been leading the fight to lower income taxes,” said Chatfield, of Levering. “I’m proud to say we have approved legislation that will allow Michigan seniors and families to keep more of their own hard-earned money. This is a victory for retirees and every hard-working person in the state – our teachers, first responders and everyone else who heads to work every day to build a better life for their loved ones. They’re all going to save money.”The legislation approved this week ensures Michigan taxpayers can continue claiming personal exemptions on their income taxes, a necessary step after federal tax reforms signed into law in December. In addition, the bills increase the state personal exemption from the current $4,000 to $4,900 by the 2021 tax year.That translates to significant savings. The technical fix related to the federal reforms saves $170 per person per year — or $680 for a family of four – on state income taxes. The plan to raise the personal exemption to $4,900 provides $102 in additional relief for a family of four.While Chatfield wholly supported the bills approved this week, his preference continues to be a rollback of the Michigan income tax rate such as he proposed with the very first bill introduced in the state House in 2017.“There’s more than one way to lower taxes, and I am pleased we have found a broad and bipartisan consensus this week that saves money for all Michigan residents,” Chatfield said.###The legislation: Senate Bills 748 and 750. Categories: Chatfield News,News 17Feb Chatfield: Tax cuts approved by Legislature are a ‘victory’ for Michigan familieslast_img read more

Read More