U.S. Economic, Housing and Mortgage Market Outlook January 2025

This report presents the U.S. Economic, Housing and Mortgage Market Outlook for January 2025. It outlines recent developments in the U.S. economy, noting a growth in Real Gross Domestic Product (GDP) of 3.1% in Q3 2024, driven by consumer spending and exports. Despite a decline in residential fixed investment, consumer spending showed a significant increase. The labor market remained strong, with payroll gains reported and a low unemployment rate of 4.1%. The report also discusses the housing and mortgage market, indicating a slight increase in housing activity despite rising mortgage rates. Home sales saw a notable rise in November 2024, while housing construction faced a slowdown. The outlook for 2025 suggests moderate economic growth, with expectations of higher mortgage rates persisting. The report concludes with insights on house price appreciation and the anticipated trends in home sales and refinancing activity for the upcoming year.