What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Investments

Final Q1 GDP estimate settles at 1.4%

Still lags behind fourth quarter growth

The third and final estimate of real gross domestic product doubled that of the first estimate for the first quarter, according to the U.S. Bureau of Economic Analysis.

The third estimate doubled GDP to an annual rate of 1.4% in the first quarter. This is up from the second estimate’s 1.2% and the first estimate’s 0.7%. However, this is still down from the fourth quarter’s growth of 2.1%. This tepid growth falls far below President Donald Trump’s target GDP of 3%.

The GDP estimate released is based on more complete data than was available for the second estimate issued last month. In the final estimate, personal consumption expenditures and exports increased, but the general picture of economic growth remains the same.

Click to Enlarge

GDP

(Souce: BEA)

Real gross domestic income increased 1% in the first quarter, up from the fourth quarter’s decrease of 1.4%. The average of real GDP and real GDI, a supplemental measure a measure of U.S. economic activity that equally weights GDP and GDI, increased 1.2% in the first quarter, up from an increase of 0.3% in the fourth quarter.

Here are updates to the previous estimate:

Current-dollar GDP: Held steady at 3.4%

Average of real GDI and real GDP: Increased to 1.2%, up from last estimate’s 1%

Gross domestic purchases price index: Decreased to 2.5%, down from last estimate’s 2.6%

Personal consumption expenditures: Held steady at 2.4%

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