The U.S. residential housing economy, which represents about 17% of GDP, will likely continue growing in second-half 2024 despite unaffordability due to high home prices and mortgage rates, according to Fitch Ratings, Chicago/New York.
Tag: Economy
U.S. Economy Adds 353,000 Jobs in January
Total nonfarm payroll employment rose by 353,000 in January, with the unemployment rate flat at 3.7%, the Bureau of Labor Statistics reported Feb. 2.
ATTOM: Northeast Housing Markets at Highest Risk of Pandemic Economic Impact
ATTOM Data Solutions, Irvine, Calif., said its third-quarter Special Report shows pockets of the Northeast and Mid-Atlantic regions most at risk, with clusters in the New York City, Baltimore, Philadelphia and Washington, D.C. areas – while the West and now Midwest are less vulnerable.
(#MBA Live) Housing, Mortgage Markets Show Resiliency, Agility
With all that has hit the mortgage industry over the past several months, Mortgage Bankers Association Chief Economist Mike Fratantoni has a positive message for mortgage lenders and servicers: “It seems like the industry has done a fantastic job of finding solutions in this crazy environment,” Fratantoni said during MBA Live: Technology Solutions Conference.
MBA, Trade Groups Ask DHS to Declare Housing ‘Essential Infrastructure Business’
The Mortgage Bankers Association joined more than 90 industry trade groups in a letter to the Department of Homeland Security, urging DHS to designate construction of single-family and multifamily housing as an “Essential Infrastructure Business.”