Fannie Mae Revises Down the 2023 Mortgage Origination Forecast

Fannie Mae has released its revised projections for 2023 mortgage originations, $1.59 trillion, a significant drop from January’s report at $1.65 trillion. Largely attributed to the lack of inventory for existing homes, home prices have increased in recent months as have permits for single-family new construction, which increased in May by 4.8%. Permits may be more indicative of the trend than the larger increase in housing starts, up 18.5% in May, a trend which Fannie Mae expects to continue barring “a broader economic slowdown.” Read More