Fannie Mae Upwardly Revises Economic Growth Estimate for Q2

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Share Save Sign up for DS News Daily Previous: OCC Comments on Progress of Hardest Hit Fund Initiative Next: Government Files Opposition to Bank of America’s Appeal of ‘Hustle’ Case Verdict Stronger-than-expected economic activity for the second quarter will drive accelerated economic growth for the second half of 2015, according to the July 2015 Economic Outlook released Thursday by Fannie Mae’s Economic & Strategic Research (ESR) Group.The U.S. economy contracted at an annualized rate of 0.2 percent in the third and final Q1 estimate from the Bureau of Economic Analysis released in late June. Improved conditions in Q2 were driven by increases in consumer spending and residential and nonresidential investments, combined with a waning drag from net exports, according to Fannie Mae. In the July Economic Outlook, Fannie Mae expects the economy to pick up to an annualized rate of 2.8 percent in Q2, which is 0.4 percentage points higher than the June estimate.Despite volatile economic conditions overseas that could pose headwinds to the U.S. economy, the ESR Group’s estimate for full-year economic growth in July is an annualized rate of 2.1 percent, up from June’s forecast of 1.9 percent, according to Fannie Mae.”Our second-half outlook is little changed overall, but we have upgraded our full-year outlook due to the upward revision to first-quarter GDP and our more optimistic view for the second quarter,” Fannie Mae Chief Economist Doug Duncan said. “We believe consumer spending will be the largest contributor to growth for the remainder of the year, particularly as consumers’ confidence, household net worth, and income growth prospects have continued to strengthen amid an improving jobs market. On the downside, the drop in oil prices will likely continue to weigh on nonresidential investment in structures, and on balance we expect net exports to be a drag on growth this year, due in large part to the debt crisis in Greece and deteriorating economic conditions in China.”Duncan said Fannie Mae’s housing outlook is largely unchanged in the July forecast, with leading housing indicators such as housing starts, mortgage rates, single-family home sales, existing home sales, and single-family mortgage originations pointing to “continued improvement” into the summer.”We expect to see strong sales, lean inventories, and rising confidence through the rest of the year, which should support increased home building activity and give an added boost to economic growth,” Duncan said. “Although a lack of skilled labor may hurt construction activity, our forecast calls for housing starts to average 1.12 million units. We expect existing and new home sales to climb by approximately 5 and 25 percent, respectively, and total mortgage originations to rise approximately 24 percent to $1.46 trillion, with a refinance share of 47 percent.”Click here to see Fannie Mae’s July 2015 Housing Forecast; click here to see the Economic Forecast; click here to see Economic Developments. Fannie Mae Upwardly Revises Economic Growth Estimate for Q2 Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. center_img in Daily Dose, Featured, Market Studies, News Home / Daily Dose / Fannie Mae Upwardly Revises Economic Growth Estimate for Q2 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Economic Outlook Fannie Mae Housing Market Outlook 2015-07-23 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Economic Outlook Fannie Mae Housing Market Outlook The Best Markets For Residential Property Investors 2 days ago July 23, 2015 925 Views About Author: Brian Honealast_img read more

Builder helps ease Townsville housing crisis

first_imgTropical Homes general manager Will Porter with new tenant Jess Lacaze as Jess and her family have been affected by the recent floods and needed a new home. Picture: Zak SimmondsA TOWNSVILLE builder is renting newly built homes ­instead of selling them to help ease the city’s housing crisis following the floods.Tropical Homes build spec homes, which are then listed for sale to cater to people who want to buy a brand new house without having to wait for it to be built.They have made 15 of those houses available to renters to help flood-affected families get accommodation; however, they are all now either been rented or have applications pending. They have partnered with Daring and Young Property to rent out the houses, which have been receiving up to 25 applications for a single property.Jess Lacaze and her ­husband Ryan are renting one of the houses in Cosgrove ­Estate and plan to move in today after the Idalia house they had owned for the past 15 years was one of the worst-hit by the floods.Mrs Lacaze said they were forced to self-evacuate with their two dogs after the water became waist high.“We were about two streets back from the Ross River so now everything in our house has to be ripped up,” she said.“After the initial shock and clean-up we started looking for a place to live.”Mrs Lacaze said she saw an advertisement for the houses and attended the open home on Sunday, where she put in an application.More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“The next day we got a phone call that we had the house and it was such a relief,” she said. “We had been living with friends who had taken us in.”Tropical Homes general manager Will Porter said they were working to have more houses available.“There were spec homes that were for sale but now they are being used as rentals,” he said. “We’ve got a couple more homes coming through the system that we’re trying to get ready but they are being snapped up before they are even ready.”Since the floods the ­Department of Housing has received hundreds of calls for emergency housing assistance following the floods.While updated vacancy rates following the flood are yet to be released, agents are reporting the number of available rentals has dramatically dropped. On Thursday the REIQ announced they have partnered with the REA Group who own listing portals and to try to help more displaced families get is waiving listing fees for people in Townsville opening their homes rent free to anyone in need of short-term accommodation.REIQ CEO Antonia Mercorella said the website could be used to list spare rooms suitable for tradespeople who were in town for a short period of time.“The displaced locals whose homes have flooded and the hundreds of workers who have come to the area to start on repairs place a strain on available accommodation.”last_img read more

World ‘losing battle against deforestation’

first_imgTropical forest loss accounts for more than 90 percent of globaldeforestation, with the hotspot being located in Amazon Basin nations ofBolivia, Brazil, Colombia and Peru. However, researchers highlighted why the overall picture was sogloomy and why halting deforestation was so vital in the battle against climatechange. A HISTORIC global agreement aimedat halting deforestation has failed, according to a report. “Halting deforestation and restoring tropical forests, forexample, could provide up to 30 percent of the mitigation required to help meetthe Paris Agreement,” explained Eszter Wainwright-Deri, forestry technicaladvisor at the Zoological Society of London. Emerging hotspot An assessment of the New York Declaration on Forests (NYDF) saysit has failed to deliver on key pledges. “In other places, we are finding that there are new trees that areenriching rural landscapes, but we are still seeing a net reduction in the numberof forests the world has.” Craig Hanson, vice-president of food, forest, water and the oceanat the World Resources Institute, described the findings as a “mixed reportcard.” The New York Declaration on Forests (NYDF) is a voluntary and alegally non-binding agreement to take action to halt global deforestation. Deforestation “accelerating” Despite the bleak outlook on a global scale, the report didhighlight the positive steps being made in Indonesia, which has long beenassociated with devastating deforestation. On average, an area of tree cover the size of the United Kingdomwas lost every year between 2014 and 2018. “There are some places in the world where we are sufferingdramatic loss of primary forest, so we are losing the battle on stoppingdeforestation,” he told reporters. “Since the NYDF was launched five years ago, deforestation has notonly continued – it has actually accelerated,” observed Charlotte Streck,co-founder and director of Climate Focus, which co-ordinated the publication ofthe report. “This cannot be achieved while zero-deforestation commitmentscontinue to be dishonored.” Worryingly, say the authors, a new deforestation hotspot in WestAfrica is emerging. The rate of tree-felling in the Democratic republic ofCongo has doubled in the past five years. Photo from FOODNAVIGATOR.COM It was first endorsed at the United Nations Climate Summit inSeptember 2014, and by October 2017 40 governments, 57 multi-national companiesand 58 non-government organizations had endorsed the declaration. The authors said political action was a contributing factor. Thecountry’s president has banned the development of peatlands and primaryforests. Yet deforestation continues at an alarming rate and threatens toprevent the world from preventing dangerous climate change, experts have said. The report says the amount of annual carbon emissions resultingfrom deforestation around the globe are equivalent to the greenhouse gasesproduced by the European Union. The critique, compiled by the NYDF Assessment Partners (acoalition of 25 organizations), painted a bleak picture of how the world’sforests continue to be felled. Launched at the 2014 UN climate summit, it aimed to halfdeforestation by 2020, and halt it by 2030. Political action The WRI’s Hanson concluded: “We are losing the battle but weshould not give up hope. This report, among other things, gives a clarion callthat we need to re-energize commitment, action and financing towards the NYDF.”(BBC)last_img read more

Shelly Sterling and V. Stiviano’s lawyers make their case on who should hear lawsuit

first_imgFruin said that given today’s developments, it would be premature for him to rule on a motion by Stiviano’s attorney, Mac Nehoray, to dismiss the lawsuit. Nehoray maintains the 10 allegations raised by Shelly Sterling’s suit are short on details.Shelly Sterling’s lawsuit describes Stiviano as a woman who “engages in conduct designed to target, befriend, seduce and then … receives as gifts transfers of wealth from older men whom she targets for such purposes.”Stiviano has several aliases, including Vanessa Perez, Monica Gallegos and Maria Valdez, the suit states. She met Sterling at the February 2010 Super Bowl and that year began a sexual relationship with him, the suit states.The suit asks for a return of all cash, land, expensive cars and other items that under law are the community property of the Sterlings.Nehoray questioned why the Sterling family trust should be a party to the lawsuit. However, Shelly Sterling’s lawyer, Amy Rice, said the spouse who does not consent to the transfers of the property is the proper person to bring the case. Nehoray said after today’s hearing that Donald Sterling was a co-trustee and that he had a right to do what he wanted with the property.Nehoray said he wants to keep the lawsuit in civil court because family law cases do not have juries. However, he said the case could be affected if one of the Sterlings files for divorce. His client, like Shelly Sterling, was not present for today’s hearing, but he said Stiviano is “doing well.”In interviews following the release of the Donald Sterling recordings — which earned him a lifetime ban from the NBA and led to a dispute over the proposed $2 billion sale of the Clippers — Stiviano denied having a sexual relationship with Sterling. Sterling, however, has described his comments on the tapes as being the result of a heated exchange during a “lovers’ quarrel.” LOS ANGELES — A civil court judge today asked for written briefs from attorneys on whether he or a family law jurist should hear a lawsuit filed by the wife of Clippers owner Donald Sterling against a woman she alleges induced her husband into a sexual affair and convinced him to give her millions of dollars in cash and property.The woman — V. Stiviano — more recently gained fame with the release of recorded conversations between her and Sterling, in which the Clippers owner disparages her for having photos taken with black people and tells her not to bring them to games.Los Angeles Superior Court Judge Richard Fruin initially issued a tentative ruling directing attorneys for Shelly Sterling and V. Stiviano to take the case to the Superior Court’s civil presiding judge for a determination of who should hear the case because of potential community property issues involved.However, after hearing arguments, Fruin ordered instead that papers be submitted from both sides in advance of another hearing July 31. Attorneys for Shelly Sterling and Stiviano both said they prefer to have Fruin hear the case.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more


first_imgDDTV:Rosses soccer starlet James Boyle has fulfilled a childhood dream by scoring for Ireland at a World Cup.Rosses Community School student James is currently in Mexico participating at the Amputee World Cup in Mexico. The supremely talented teen made no mistake from the penalty spot in Ireland’s match against Uzbekistan.Boyle expertly dispatched his effort but unfortunately the Irish side were defeated 6-1 by the former World Champions.Ireland also lost their opening match against Brazil 2-0, and face the Ukraine in their final group match.Hopefully James can add more goals to his tally in the remainder of the tournament. However, at least he can say that not only did he play at the World Cup he’s also scored at one.A tremendous achievement and he is the first Donegal man to score in a World Cup?Answers on a postcard please…. DDTV: WATCH DONEGAL SOCCER STAR SCORE FOR IRELAND AT THE AMPUTEE WORLD CUP IN MEXICO was last modified: December 2nd, 2014 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:DDTVjames boyleMexiconewsrossessoccerWORLD CUPlast_img read more

Tuesday’s Chelsea quiz

first_imgName the year! Test your memory and knowledge of Chelsea history by seeing how many of these five questions you can answer correctly. [wp-simple-survey-59] 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 Follow West London Sport on TwitterFind us on Facebooklast_img read more

Live updates: Struggling Raiders fall 27-3 to Seahawks in London

first_imgClick HERE if you’re having trouble viewing the gallery on your mobile device. Get live updates, news and analysis Sunday morning while the Raiders face the Seattle Seahawks in London starting at 10 a.m.This will be the second straight season Oakland has played one of its “home games” out of the country. The Raiders are hoping for better results than last year’s debacle in Mexico City when they were routed by the Patriots 33-8. Oakland is also looking to rebound from another …last_img read more

Five keys for the 49ers to beat the Bengals

first_imgDraw on humble roots by practicing at Youngstown State? Check.Win the next game? They did in 2011 and ’12, when the 49ers triumphed after a Youngstown connector between back-to-back road games.CINCINNATI, OH – … YOUNGSTOWN, Ohio – Bunkering here for a week is meant to enhance the 49ers’ job prospects come Sunday’s game at the Cincinnati Bengals.Cut down on cross-country travel? Check.Keep body clocks on the Eastern Time Zone? Check.Bond inside a six-story Holiday Inn? Check.last_img read more