In its October Economic Outlook report, the Fannie Mae's 
Economic & Strategic Research Group pointed to financial 
and policy issues in the U.S. and abroad as looming challenges 
that could restrain meaningful economic growth in 2012. 

While the outlook on the economy was uncertain, the 
assessment for the housing market was more stable. 
"News from the housing sector is more positive, 
with various indicators showing continued momentum toward 
a sustainable, long-term recovery," said Duncan. 
"Notably, home prices are inching back into positive 
territory on a year-over-year basis." 

The research group still maintains the viewpoint that home 
prices hit bottom earlier this year. In addition to the bottoming 
out of home prices, the GSE's research group 
said record low mortgage rates should encourage more 
consumers to enter the housing market. As housing activity 
picks up, the group expects to see total home sales 
increase 9 percent from the previous year. 

More importantly, the low mortgage rate environment, which is being 
encouraged by the Fed's stimulus, will continue to motivate more buyers to seek refinancing options. Homeowners will have lower monthly payments through lower interest rates with more to spend, save and use toward debt. 

Compliments of Greg Hayden, PNC mortgage 
Article from DSN news 

The Harriet Martin Team 
Sales * Rentals *Property Management 
Harriet, Sandy, Maritza, Michelle, Van 
Humberto, Vania & Blanca 
Fortune International Realty 
MLHS South Florida Inc 
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