The U.S. Economic and Housing Market Outlook for January 2012, released by Freddie Mac, shows that the economy is in a better place than the same time a year ago, but economic recovery will not be a fast one.

Freddie Mac predicts that economic growth will be about 2.1 percent in the first quarter and mortgage rates are expected to remain low, at least in the beginning of 2012. Home sales should grow up to 5 percent this year but the recovery will be slow due to a large gap between buyer and seller sentiment.

"With the new year comes a sense of cautious optimism. There are some positive signs in the job market and consumer confidence," says Freddie Mac vice president and chief economist, Frank Nothaft, "which is starting to raise hopes for continued gradual economic recovery. But the economy still is giving some mixed messages."

Read the Freddie Mac January 2012 U.S. Economic and Housing Market Outlook.

Posted in National News

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