Fannie Mae sees sharp drop in 2020 homes sales

Fannie Mae (OTCQB:FNMA -0.6%) sees 2020 homes sales declining ~15% due to COVID-19, jibing with today’s dip in homebuilder confidence.

Projects purchase originations of $1.11T this year vs. $1.28T in 2019.

Sees refinances rising ~$400B this year to $1.41T.

Forecasts Q2 real GDP falling 25% annualized.

Expects full-year 2020 output contracting 3.1% and full-year 2021 growth of 4.8%.

https://seekingalpha.com/news/3560938-fannie-mae-sees-sharp-drop-in-2020-homes-sales