The compounding effects of elevated inflation and higher interest rates are expected to further weigh on economic growth and home sales as the year progresses, with full-year 2022 growth now forecast at a slightly reduced 1.2% and expectations of a late-2023 modest economic contraction unchanged, according to the June 2022 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group.
“The market’s expectations of the necessary Federal Reserve response to persistent broad-based
