Single-family mortgage volume in the US is expected to decrease by 6.3% in the 2024 fiscal year, according to the latest forecast from the government-sponsored enterprise, Fannie Mae.
The previous forecast from Fannie Mae projected a total single-family mortgage volume of $2.03 trillion for the 2024 fiscal year, but due to recent financial conditions, the General Economic Conditions Index, and other factors, the new forecast has revised this projection to $1.90 trillion. In response, business analysts and industry experts have raised concerns as to the overall economic outlook of the coming years.
The most important elements of this text include the following:
• Fannie Mae forecasts a single-family mortgage volume of $1.90 trillion in 2024, a 6.3% decline from previous forecast of $2.03 trillion.
• The new forecast is a direct result of recent financial conditions and the General Economic Conditions Index.
• Business analysts and industry experts are concerned about the economic outlook of the coming year.
You can read this full article at: https://www.housingwire.com/articles/fannie-mae-lowers-2023-single-family-originations-forecast-to-1-59-trillion/(subscription required)
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