Second-quarter data show housing activity has lost momentum and may experience only minor improvements in the second half of the year, according to a Fannie Mae's Economic & Strategic Research Group.

Data indicate the overall rebound in the nation's gross domestic product during the first half of the year, and Fannie's growth expectations for 2014 and 2015 are driven by a number of factors, including a boost in consumer spending, not residential housing investment, as previously expected, according to a press release Monday.

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