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Financial News |
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Housing Slump Seen Weighing
on Economy
Monday June 1, 11:09 pm ET
By Martin Crutsinger, AP
Economics Writer
Analysts Say Housing Slowdown That Hit U.S. Economy Will
Persist Into 2007
WASHINGTON (AP) -- The slowdown that hit the U.S. economy will
persist into 2007 as the once red-hot housing market continues
to suffer through a serious correction, analysts say.
As the new year begins, many private analysts are forecasting
the economy will perform at the slowest pace in five years, a
full percentage-point lower than growth in 2006.
One such analyst is Nariman Behravesh, chief economist at
Global Insight, a forecasting firm. "The recession in the
housing market does not seem to have had much of an impact on
the consumer," he said. "The bad news on housing has been
offset by good news on wages, jobs and the stock market."
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Templates for MS FrontPage
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Mortgage Rates |
|
Loan Type |
Rate |
APR |
| 30-yr Fixed |
6.29% |
6.47% |
| 15-yr Fixed |
5.99% |
6.27% |
| 5/1 ARM |
5.95% |
7.09% |
Last
updated 6-29-07 |
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News |
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