-In its July forecast, Fannie Mae predicted that home prices would rise by 3.9% by the end of 2020.
-However, the company still expects a recession to hit in either the fourth quarter of 2020 or the first quarter of 2024.
-Fannie Mae’s forecast is based on the assumption that the spread of COVID-19 will continue to slow and that the economy will rebound in the second half of 2020.
-The mortgage industry expert predicts that the Fed will keep interest rates low to help support the economy.
You can read this full article at: https://www.housingwire.com/articles/fannie-mae-notches-5b-in-profits-in-q2-but-still-expects-a-recession/(subscription required)
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