General World News

Fannie Mae notches $5B in profits in Q2, but still expects a recession

Fannie Mae netted $5 billion in profits in the second quarter, up $1.22 billion from the first three months of the year.

Executives attributed the swollen profits to the continued strength of home prices, which have risen 5% in the first six months of the year.

In fact, Fannie Mae is no longer predicting a decline in home prices in 2023. The government sponsored enterprise‘s forecast now calls for a 3.9% home-price increase this year, though a recession is still in details ⇒

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