Drop in Housing Starts, Sales Is Predicted
From Reuters
U.S. housing starts and home sales should fall short of 2004’s record pace, but only slightly, as tame inflation helps sustain low long-term mortgage rates in 2005, Freddie Mac economists said.
Frank Nothaft, chief economist at the No. 2 U.S. mortgage funder, said housing starts should decline this year by 1% to 2% while 30-year mortgage rates are seen increasing by no more than half a percentage point.
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