Tag Archives: Doug Duncan

Even with a recession in the forecast, the economy appears to be an unexpectedly good place to start off the year according to Fannie Mae.

With both home prices and interest rates remaining relatively high, consumer sentiment is being suppressed by these purchase conditions.

"There are economic signals pointing to recession but also signs that a 'soft landing' may be in the offing," said Doug Duncan, SVP and Chief Economist, Fannie Mae.

Doug Duncan, Fannie Mae’s SVP and Chief Economist, noted that “respondents continue to cite high home prices and unfavorable mortgage rates as the primary reasons for their pessimism.”

Responses to a recent Fannie Mae survey show high mortgage rates are contributing to near-all-time low optimism among potential buyers and sellers.

A new Fannie Mae report finds consumer confidence declining to the lowest level seen in the report’s 11-year history.

In response to the additional stress on their balance sheets, some mortgage industry firms have announced layoffs, ceased specific products, or shuttered all together.

As Fannie Mae predicted in the second quarter of 2022, home price growth decelerated sharply during the third quarter, which fell in-line with a sharp rise in mortgage rates, further proving that the current rate and home price environment is weighing on affordability.

Fannie Mae’s Economic and Strategic Research Group has found that due to inflation, monetary policy tightening by the Federal reserve, and a slowing market will tip the economy into a “modest recession” during the first quarter of 2023.

According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023.  According to the ...