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first_img 20-year fixed mortgage rate Economy Fannie Mae Fed GDP HOUSING mortgage Rates Sales 2018-02-16 Radhika Ojha Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Domestic Spending to Spur Economic Growth Related Articlescenter_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Domestic Spending to Spur Economic Growth Subscribe Tagged with: 20-year fixed mortgage rate Economy Fannie Mae Fed GDP HOUSING mortgage Rates Sales February 16, 2018 1,800 Views Servicers Navigate the Post-Pandemic World 2 days ago Previous: Starter Home Values Rising at the Fastest Rate on the Market Next: For Sale: Freddie Mac’s First NPLs of 2018 Mortgage rates and home sales are expected to rise in 2018 according to the latest economic and housing outlook by Fannie Mae. The report expects mortgage rates to rise 30 basis points to 4.4 percent by the end of 2018 as a result of the unexpected spike in long-term interest rates at the start of the year.The report, which gives a snapshot of what can be expected from the economy during the year, indicated that robust economic growth would continue into 2018 despite the recent market volatility and expects the U.S. economy to post a strong 2.7 percent GDP growth during the year. “Strength in economic fundamentals continues to underpin the current forecast, including recent momentum in domestic demand and a historically healthy labor market,” the report predicted.The report indicated that the passage of deficit-financed stimulus in this year’s budget was likely to raise additional overheating concerns. The report forecasts the first rate hike of the year in March during the Fed meeting under the new leadership of Fed Chair Jerome Powell.According to the report, after seeing a surge in spending in the last quarter of 2017, spending growth could moderate in the coming quarters but would remain the primary driver for the country’s economic growth, in part due to increased disposable income from the tax cut. In fact, the stronger disposable household income growth due to the tax cut and strong growth in jobs is also expected to translate into rising new home sales during the year.“We upped this year’s 30-year fixed mortgage rate forecast by 30 basis points …” said Doug Duncan, Chief Economist at Fannie Mae. “However we don’t expect rates to play much of a role in total home sales, especially with anticipated stronger disposable household income growth.”During the year, the forecast expects median home prices to rise from $246,000 in 2017 to $259,000. Median prices of new homes are also expected to increase from $320,000 to $337,000.“The ongoing inventory shortages should continue to constrain sales despite otherwise ripe home buying conditions,” Duncan said. The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

first_imgVEPC authorizes tax incentivesBrandons Visual Learning and Nexus ApprovedMONTPELIER — The Vermont Economic Progress Council approved applications from two Brandon companies at its May and June meetings, authorizing tax incentives for activity that will generate an estimated 128 new, full-time jobs and $4.3 million in investments. Nexus Custom Electronics, Inc. of Brandon was authorized for $258,231 in payroll, export, and capital investment credits, and Visual Learning Company of Brandon was authorized for $85,205 in payroll, export and capital investment credits.Nexus Custom Electronics manufactures electronic components to customer specifications. The company is part of a corporation that has a similar plant in Woburn, Massachusetts. The incentives will help ensure that future investment and growth occurs in the Vermont plant. Nexus expects that new contracts and increased sales will result in job creation and investment in new machinery and equipment.Visual Learning Company produces and markets educational science multi-media programming for elementary and middle schools around the country. The company was considering locations in New York for expansion. The incentives will ensure that the companys growth occurs in Vermont. Visual Learning expects to add new jobs and invest in an existing building in Brandon for expansion. The tax incentives were authorized based on business activity that must occur before the credits can be claimed. The Council approved the applications after reviewing nine guidelines and applying a rigorous cost-benefit analysis that projects whether the activity encouraged by the tax incentives will have a positive or negative impact on the region and state.The Council also determined that the project would not occur or would occur in a significantly different and less desirable manner if not for the incentives being authorized.These incentives generate good jobs that pay well and increase income levels here in Vermont, said Lawrence Miller, chair of the nine-member council of business people from around the state. “If the credits are claimed, it means that the applicant has performed as expected and invested in Vermont. The net fiscal impact is outstanding for Vermont and we’re pleased to offer these incentives.”last_img read more