Fannie Mae revises economic forecast downward for next two years
Amy Bernier, in Customer Engagement with Fannie Mae, noted that despite seeing a slowdown in the economy, Fannie Mae is projecting $35 billion in volume for 2019. As of April, the agency had already reached $21.7 billion in volume, and is trying to drive business to its uncapped products including affordable, green and manufactured housing and small properties of $5 to $50 million.
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The Fannie Mae Economic and Strategic Research Group revised upward its full-year 2018 economic growth forecast to 3.0 percent – from 2.8 percent in the prior forecast – on expectations that third and fourth quarter inventory restocking will outweigh slowing consumer spending growth and a decline in net exports, according to its August 2018 Economic and Housing Outlook.
Fannie Mae’s Economic and Strategic Research Group (ESR) predicts full-year 2019 and 2020 U.S. economic growth of 1.5%, down from Fannie Mae’s previous prediction of 2.1%. The GSE cites.
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· As a result, total residential purchase lending (including new home sales) is now expected to be up 2.8 percent in 2018 Vs 2017 based on the average forecasts from Fannie Mae, Freddie Mac and the MBA as of September 2018. The refinance lending segment is leaking but at a much greater rate due to rising interest rates.
2019 /PRNewswire/ — The Fannie Mae Economic and Strategic Research (ESR) Group in its February forecast update is maintaining its prediction for 2.2 percent full-year growth in 2019, down from 3.1.
· Fannie Mae’s latest forecast was published in July 2018. They predict that the average rate for a 30-year fixed mortgage will start 2019 at around 4.6% and stay within that range for much of the year. The National Association of Home Builders also issued an updated forecast in July 2018. In it, they predicted that 30-year mortgage loan rates would average 4.71% in 2019.
Fannie Mae revises economic forecast downward for next two years. Fannie Mae has revised its economic forecast downward. Trade tensions are causing uncertainty for investors and driving mortgage rates downward. NEXT: Most expensive homes sold in Houston May 2019 Fannie Mae has revised its economic forecast downward..
U.S. stock futures inch up in cautious atmosphere ahead of Fed meeting MARKET SNAPSHOT: U.S. Stock Futures Inch Up In Cautious Atmosphere Ahead Of Fed Meeting By Barbara Kollmeyer, MarketWatch U.S. stock futures inched up Monday but investors remained cautious ahead of a Federal open market committee meeting this week, where they hope to get more guidance on possible interest rate cuts.
According to the Fannie Mae Economic and Strategic Research (ESR) Group’s March 2018 Economic and Housing Outlook, the full-year 2018 forecast of real GDP growth by one-tenth to 2.8 percent, while the full-year 2019 forecast by two-tenths to 2.5 percent.Fannie Mae also downgraded its first quarter forecast from 2.7 percent to 2.2 percent, blaming the drop on slowdowns in housing activity and.