Recession 50/50: Fannie MaePosted by RJ and Makay on Aug 22, 2011 |
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Fannie Mae has issued analyses this week that reports a 50% chance of a double dip recession. The firm’s Economics and Mortgage Market Analysis Group predicts that total 2011 U.S. economic growth will come in around 1.4%, down from 3.1% in 2010. Looking further ahead, the company sees 2012 economic growth at only 2%, well off its original 2012 forecast of 3.1% made last month.
Mortgage rates for 15-year loan at record lowPosted by RJ and Makay on Aug 04, 2011 |
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The average rate on a 15-Year fixed mortgage has fallen to a level not seen in decades. Freddie Mac announced yesterday that the rate for the popular loan had fallen to 3.54% from 3.66 % the previous week, the lowest rate since it began tracking it in 1991. Also, the average rate on a 30-year fixed loan fell to a year low 4.39% from 4.55% the previous week, but is still above its record low of 4.17% last November.
“If you don't know where you are going, any road will get you there.”
Lewis Carroll (English Logician, Mathematician, Photographer and Novelist, especially remembered for Alice's Adventures in Wonderland. 1832-1898)
