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Lenders Expect Refi Wind-Down to Lower Profits
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Mortgage lenders remain negative on profits, citing competition
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WASHINGTON, March 17, 2021 /PRNewswire/ As vaccines deploy and social lockdown measures continue to ease, U.S. economic expansion is expected to accelerate this spring, with real GDP growth hitting 8.4 percent in the second quarter and 6.6 percent for the full year before moderating in 2022, according to the March 2021 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group s latest forecast includes only modest and intertemporal revisions to the topline economic numbers, reflecting recent developments registering mostly offsetting impacts to growth, including stronger-than-expected consumer spending data, weather- and energy-related disruptions across wide swaths of the country, new details regarding the stimulus bill, showing some government expenditures to be later than previously expected, and updated interest rate expectations. Right now, risks to further economic recovery remain largely n
Record share of lenders expect declining profits in 2021: Fannie Mae
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