MODERATION in the Outlook

Duncan, Douglas G.; Warnock, Veronica Cacdac
January 2005
Mortgage Banking;Jan2005, Vol. 65 Issue 4, p26
The article reports that the U.S. mortgage industry completed a fourth-straight record year of home-purchase fundings in 2004, all the while looking over its shoulder. The economy will find more solid footing this year, advancing at 31.5 percent per year. While this pace is slower than last year, the expansion will be more broadly based. Net exports are expected to improve gradually, due to lagging effects of the dollar depreciation. The decline in the value of the dollar in the foreign exchange market has made our exports more attractive, and some more slowing of import demand is anticipated. The unemployment rate will hover around 5.5 percent for a while longer, as the labor participation rate increases.


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