Fannie 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.
