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.
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Where Fannie Mae Thinks the Market Is Headed
In its latest forecast, the GSE predicts a short-term tightening of the Federal Reserve’s policies and an interest rate hike in late 2022.
Read More »GDP Growth Rises to 3.7 Percent for Second Q2 Estimate, But is the News All Good?
Q2's real GDP growth is consistent with the positive news for most housing metrics as of late. Existing home sales are at pre-recession levels, and in the July 2015 pending home sales report released Thursday by the National Association of Realtors (NAR), pending home sales were up by 7.4 percent year-over-year. Affordability and tight inventory remain obstacles to home sales, however.
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