April 2012 U.S. Economic And Housing Market Outlook

'Noisy' Data

News provided by

Freddie Mac

25 Apr, 2012, 01:29 ET

MCLEAN, Va., April 25, 2012 /PRNewswire/ -- Freddie Mac (OTC:FMCC) released today its U.S. Economic and Housing Market Outlook for April showing that recent employment and housing data may be more noise than a break in momentum due to the unseasonably warm winter. 

Outlook Highlights                                                                         

  • Despite one "noisy" month, the outlook is for the labor market this year is to remain on track with an increase in job growth over 2011 and a further acceleration in 2013.
  • The first quarter of 2012 registered the best quarterly payrolls performance since the spring of 2006, despite falling short of expectations. 
  • Expect unemployment to decrease further from 8.2 percent in March to 8.0 percent by the fourth quarter.
  • March retail sales showed that consumers continued to spend aggressively, bringing first-quarter sales 2 percent above sales in the previous quarter.
  • Expect 30-year fixed-rate mortgages to gradually increase in the second half of 2012 to about 4.25 percent to 4.50 percent by the end of the year.

Click here to view the complete April 2012 U.S. Economic and Housing Market Outlook. Freddie Mac compiles data on major economic and housing and mortgage market indicators and offers forecasts based on those indicators.

Quotes
Attributed to Frank Nothaft, Freddie Mac, vice president and chief economist.

  • "Relatively small sample sizes during winter months and unusually mild or severe weather add 'noise' to seasonally adjusted, annual rate estimates for housing starts and permits. Since 1959, one-family starts have moved 9 percent on average between successive winter months but only 4 percent month-to-month during the summer."

Get the latest information from Freddie Mac's Office of the Chief Economist on Twitter:@FreddieMac

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

SOURCE Freddie Mac

PRN Top Stories Newsletters

Sign up to get PRN’s top stories and curated news delivered to your inbox weekly!

Thank you for subscribing!

By signing up you agree to receive content from us.
Our newsletters contain tracking pixels to help us deliver unique content based on each subscriber's engagement and interests. For more information on how we will use your data to ensure we send you relevant content please visit our PRN Consumer Newsletter Privacy Notice. You can withdraw your consent at any time in the footer of every email you'll receive. Mit Ihrer Anmeldung erklären Sie sich damit einverstanden, Inhalte von uns zu erhalten.
Unsere Newsletter enthalten Zählpixel, die die Lieferung einzigartiger Inhalte in Bezug auf das Abonnement und die Interessen der einzelnen Abonnenten ermöglichen. Weitere Informationen über die Verwendung Ihrer Daten im Hinblick auf die Zusendung von relevanten Inhalten, finden Sie in unserer PRN Consumer Newsletter Privacy Notice. Ihre Zustimmung können Sie jederzeit in der Fußzeile jeder erhaltenen E-Mail widerrufen. En vous inscrivant à la newsletter, vous consentez à la réception de contenus de notre part.
Notre newsletter contient des pixels espions nous permettant la fourniture à chaque abonné, d’un contenu unique en lien avec ses souscriptions et intérêts. Pour de plus amples informations sur l’utilisation faite de vos données en vue de l’envoi des contenus concernés, nous vous invitons à consulter la politique de confidentialité disponible à partir du lien suivant PRN Consumer Newsletter Privacy Notice. Vous pouvez à tout moment revenir sur votre consentement par le biais des informations situées au bas de chaque e-mail reçu. Регистрирайки се, Вие се съгласявате да получавате информационно съдържание от нас. Нашите бюлетини съдържат проследяващи пиксели, които ни помагат да предоставяме уникално съдържание въз основа на ангажираността и интересите на всеки абонат. За повече информация относно начина, по който ще използваме Вашите данни, за да гарантираме, че Ви изпращаме подходящо съдържание, моля, направете справка с нашето Уведомление за поверителност на потребителския бюлетин на PRN. Можете да оттеглите съгласието си по всяко време в долния колонтитул на всеки от имейлите, които ще получите.