MReport August 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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64 | TH E M R EP O RT FINAL THOUGHTS Recession Ahead? In this month's Final Thoughts, we hear from executives and experts on the likelihood of a near-term recession in light of record-high inflation and a corresponding economic slowdown. Here are some insights: "fears are escalating" Sheharyar Bokhari, Redfin's Senior Economist, on recession fears driven by signaling from the Federal Reserve that it will continue to raise rates in future meetings. "great deal of anxiety" National Reverse Mortgage Lenders Association President Steve Irwin on one of the major fears of the country's senior population (the others being inflationary fears and market volatility). "declining consumer confidence" Sam Khater, Chief Economist for Freddie Mac, on one of the many things currently weighing on homeseekers during a period of high inflation and increasing interest rates. "abrupt change" Mike Fratantoni, the Mortgage Bankers Association SVP and Chief Economist, on the path of the economy recently as the Fed increases rates while real GDP has now declined for two consecutive quarters. "struggling" George Raitu, Manager of Economic Research for, said on the current state of households and the fluctuations they are enduring in a time of economic turbulence.

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