In 2023, we expect total originations to fall to $2.22 trillion, but this is still an upward revision of $19 billion from last month’s forecast, entirely due to an upward revision to purchase originations. Economists are suggesting that this is because higher home prices outweigh the down revision to home sales. Jul 20, 2022
The U.S. economy will likely tip into recession during the first quarter of 2023 and shrink 0.4% for the full year as the combination of high inflation and tightening monetary policy bedevils consumers and businesses, Fannie Mae economists said.