Housing Forecasts Scaled Back

The nation's two largest mortgage companies, Fannie Mae and Freddie Mac, have published forecasts lowering their projections for home sales and mortgage production, industry-wide. The economists at Fannie are tempering public expectations for the housing market with a candid warning: the headwinds in housing have picked up. Freddie's economic team slimmed down its projected numbers, but said the market has gained enough momentum to carry through the occasional setbacks.