This will be a year of slow GDP growth (roughly 1.2 percent) and interest rates will stay in pretty tight range of where they are today. That was the big economic picture offered by the Mortgage Bankers Association CREF/Multifamily Housing Convention & Expo 2020 conference in San Diego.
According to Michael Frantantoni, MBA’s chief economist, the projected slowdown (GDP last year was 2.2 percent) is not surprising for an economy that has been so robust for so long. But there are so many more uncertainties this year.
Read more...MBA Predicts Slow Economy, Stable Rates via Multi-Housing News Online