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Fannie Mae Trims Mortgage Originations Forecasts

Fannie Mae announced it expects further slowing in housing as the economy heads for a modest recession in 2023, and it has cut its projections for the mortgage industry accordingly.

Fannie Mae2 300x165Fannie now predicts that 2022 mortgage originations will be $2.44 trillion, down from a previous forecast of $2.47 trillion, while 2023 mortgage originations will be $2.17 trillion, down from a previous forecast of $2.29 trillion.

"We now expect purchase volumes to fall about 1.5 percent in 2023 to just under $1.7 trillion, a downward revision of $17 billion from last month’s forecast, driven by downward revisions to our forecast for home sales," the mortgage finance giant’s Economic & Strategic Research Group wrote.

Read the full announcement from Fannie Mae.

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