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The housing outlook is up, according to Freddie Mac's Office of the Chief Economist, Economic and Housing Outlook.
Bureau of Labor Statistics (U.S. Department of Labor) data was quoted as claiming 274,000 job gains (non-farm) for April.
February and March figures were also revised up by 93,000. Continued growth in construction that has seen gains in 24 of the last 25 months, due to the strong housing sector of the industry.
Freddie Mac credits the strength of construction and housing in general for the continuing low mortgage rates and looks towards a a bright future.
Other conclusions reached in the report:
Freddie Mac expects such good results because it's chief economist has now lowered
the forecast for mortgage rates at year end by about 30 basis points across the board. They now expect 30-year fixed finishing rise 6. % in 2005.
Story: Ed Rooney for Live With a Net© Publications. All rights reserved.
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