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Fannie Mae Maintains Forecast of Mild Recession

Sunday, Jul 23 2023
Lending
Written by  The Mortgage Leader

Fannie Mae’s Economic and Strategic Research Group has noticed the resiliency of the U.S. economy, but isn’t backing away from its recession projections just yet. So reports NEXT Mortgage News.

Fannie Mae2 280x186The ESR Group has upgraded its forecast for economic growth this year from 1.1% from 0.1%, according to a press release. “However, while noting that the probability of a ‘soft landing’ may have increased of late, the ESR Group continues to expect a modest recession beginning in the fourth quarter of 2023 or the first quarter of 2024,” Fannie Mae said.

Read the full article from NEXT Mortgage News.

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