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Fannie Mae Cuts Economic Outlook Due to Rates, Inflation

Fannie Mae has downgraded its 2022 economic outlook, as well as its projections for home sales and mortgage originations, citing stubborn inflation and climbing interest rates.

Fannie Mae2 150x150According to the May 2022 commentary from the Fannie Mae Economic and Strategic Research Group, the housing giant’s total mortgage originations forecast for full-year 2022 has been cut from $2.82 trillion to $2.70 trillion.

“Financial conditions have tightened significantly, and the economy is slowing faster than previously expected as markets adjust to the Federal Reserve’s tightening guidance,” Fannie Mae chief economist Doug Duncan said in a statement.

Read the full announcement from Fannie Mae.

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