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The uptick in housing activity will be temporary: Fannie Mae

The mortgage industry started 2023 with optimism due to an increase in housing activity. However, the celebrations may have to wait, as the fundamentals point to further weaknesses ahead of an expected recession in the second quarter of this year, according to Fannie Mae

“Recent data have been stronger than expected in ways that we believe are likely to lead to tighter monetary policy with attendant increases in interest rates,” Doug Duncan, Fannie Mae’s senior vice president and chief economist, said in a statement. 

The latest data releases present substantial upside risk to the Economic and Strategic Research details ⇒

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