Fannie Mae

A housing finance enterprise whose Economic and Strategic Research group publishes monthly economic and housing forecasts.

Government-sponsored enterprise · United StatesWashington, D.C.3 reports40 figuresInstitution website ↗

Federal funds rate

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PeriodReportedForecast
2026 full year“| Federal Funds Rate | 4.3 | 4.3 | 4.3 | 3.9 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 4.2 | 3.6 | 3.6 |” — Forecast table, Federal Funds Rate, 2026 annual column · source ↗2026-08-133.6
2027 full year“| Federal Funds Rate | 4.3 | 4.3 | 4.3 | 3.9 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 4.2 | 3.6 | 3.6 |” — Forecast table, Federal Funds Rate, 2027 annual column · source ↗2026-08-133.6
2026 Q4“Federal Funds Rate | 26.4 | 3.6” — Economic Forecast table · 2026 Q4 · source ↗2026-07-103.6%

U.S. 10-year Treasury yield

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PeriodReportedForecast
2026 full year“| 10-Year Treasury Note Yield | 4.5 | 4.4 | 4.3 | 4.1 | 4.2 | 4.4 | 4.7 | 4.8 | 4.8 | 4.9 | 4.9 | 4.9 | 4.3 | 4.5 | 4.9 |” — Forecast table, 10-Year Treasury Note Yield, 2026 annual column · source ↗2026-08-134.5
2027 full year“| 10-Year Treasury Note Yield | 4.5 | 4.4 | 4.3 | 4.1 | 4.2 | 4.4 | 4.7 | 4.8 | 4.8 | 4.9 | 4.9 | 4.9 | 4.3 | 4.5 | 4.9 |” — Forecast table, 10-Year Treasury Note Yield, 2027 annual column · source ↗2026-08-134.9
2026 Q4“10-Year Treasury Note Yield | 26.4 | 4.5” — Economic Forecast table · 2026 Q4 · source ↗2026-07-104.5%

U.S. 30-year fixed mortgage rate

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PeriodReportedForecast
2026 Q4“30-Year Fixed Rate Mortgage | 26.4 | 6.4” — Housing Forecast table · 2026 Q4 · source ↗2026-07-106.4%

U.S. business fixed investment growth

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PeriodReportedForecast
2026 Q4“| Business Fixed Investment | 9.5 | 7.3 | 3.2 | 2.4 | 10.6 | 8.4 | 5.2 | 6.0 | 5.2 | 5.1 | 4.6 | 4.2 | 5.6 | 7.5 | 4.8 |” — Forecast table, Business Fixed Investment, 2026 annual column · source ↗2026-08-137.5
2027 Q4“| Business Fixed Investment | 9.5 | 7.3 | 3.2 | 2.4 | 10.6 | 8.4 | 5.2 | 6.0 | 5.2 | 5.1 | 4.6 | 4.2 | 5.6 | 7.5 | 4.8 |” — Forecast table, Business Fixed Investment, 2027 annual column · source ↗2026-08-134.8
2026 Q4“Business Fixed Investment | 26.4 | 5.8” — Economic Forecast table · 2026 Q4 · source ↗2026-07-105.8%

U.S. core CPI inflation

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PeriodReportedForecast
2026 Q4“| Core Consumer Price Index (ex. Food & Energy) | 3.1 | 2.8 | 3.1 | 2.7 | 2.5 | 2.7 | 2.4 | 2.5 | 2.4 | 2.3 | 2.4 | 2.4 | 2.7 | 2.5 | 2.4 |” — Forecast table, Core Consumer Price Index, 2026 annual column · source ↗2026-08-132.5
2027 Q4“| Core Consumer Price Index (ex. Food & Energy) | 3.1 | 2.8 | 3.1 | 2.7 | 2.5 | 2.7 | 2.4 | 2.5 | 2.4 | 2.3 | 2.4 | 2.4 | 2.7 | 2.5 | 2.4 |” — Forecast table, Core Consumer Price Index, 2027 annual column · source ↗2026-08-132.4
2026 Q4“Core Consumer Price Index (ex. Food & Energy) | 26.4 | 2.9” — Economic Forecast table · 2026 Q4 · source ↗2026-07-102.9%

U.S. core PCE inflation

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PeriodReportedForecast
2026 Q4“| Core PCE Chain Price Index (ex. Food & Energy) | 2.8 | 2.7 | 2.9 | 2.9 | 3.1 | 3.3 | 3.3 | 3.2 | 2.7 | 2.4 | 2.3 | 2.2 | 2.9 | 3.2 | 2.2 |” — Forecast table, Core PCE Chain Price Index, 2026 annual column · source ↗2026-08-133.2
2027 Q4“| Core PCE Chain Price Index (ex. Food & Energy) | 2.8 | 2.7 | 2.9 | 2.9 | 3.1 | 3.3 | 3.3 | 3.2 | 2.7 | 2.4 | 2.3 | 2.2 | 2.9 | 3.2 | 2.2 |” — Forecast table, Core PCE Chain Price Index, 2027 annual column · source ↗2026-08-132.2
2026 Q4“Core PCE Chain Price Index (ex. Food & Energy) | 26.4 | 3.3” — Economic Forecast table · 2026 Q4 · source ↗2026-07-103.3%

U.S. existing-home sales

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PeriodReportedForecast
2026 Q4“Existing (Single-Family, Condos/Co-Ops) | 26.4 | 4,204” — Housing Forecast table · 2026 Q4 · source ↗2026-07-104.204M

U.S. headline CPI inflation

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PeriodReportedForecast
2026 Q4“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 2.9 | 3.1 | 2.7 | 1.7 | 2.3 | 2.0 | 2.7 | 3.1 | 2.0 |” — Forecast table, Consumer Price Index, 2026 annual column · source ↗2026-08-133.1
2027 Q4“| Consumer Price Index | 2.7 | 2.5 | 2.9 | 2.7 | 2.7 | 3.8 | 2.9 | 3.1 | 2.7 | 1.7 | 2.3 | 2.0 | 2.7 | 3.1 | 2.0 |” — Forecast table, Consumer Price Index, 2027 annual column · source ↗2026-08-132.0
2026 Q4“Consumer Price Index | 26.4 | 3.3” — Economic Forecast table · 2026 Q4 · source ↗2026-07-103.3%

U.S. headline PCE inflation

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PeriodReportedForecast
2026 Q4“| PCE Chain Price Index | 2.6 | 2.4 | 2.7 | 2.8 | 3.1 | 3.8 | 3.5 | 3.5 | 2.9 | 2.1 | 2.3 | 2.1 | 2.8 | 3.5 | 2.1 |” — Forecast table, PCE Chain Price Index, 2026 annual column · source ↗2026-08-133.5
2027 Q4“| PCE Chain Price Index | 2.6 | 2.4 | 2.7 | 2.8 | 3.1 | 3.8 | 3.5 | 3.5 | 2.9 | 2.1 | 2.3 | 2.1 | 2.8 | 3.5 | 2.1 |” — Forecast table, PCE Chain Price Index, 2027 annual column · source ↗2026-08-132.1
2026 Q4“PCE Chain Price Index | 26.4 | 3.5” — Economic Forecast table · 2026 Q4 · source ↗2026-07-103.5%

U.S. home-price growth

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PeriodReportedForecast
2026 Q4“Fannie Mae HPI | 26.4 | 2.3” — Housing Forecast table · 2026 Q4 · source ↗2026-07-102.3%

U.S. housing starts

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PeriodReportedForecast
2026 Q4“Total Housing Starts | 26.4 | 1,314” — Housing Forecast table · 2026 Q4 · source ↗2026-07-101.314M

U.S. new single-family home sales

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PeriodReportedForecast
2026 Q4“New Single-Family | 26.4 | 669” — Housing Forecast table · 2026 Q4 · source ↗2026-07-10669K

U.S. nonfarm payroll growth

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PeriodReportedForecast
2026 full year“| Percent Change: Q4/Q4 | | | | | | | | | | | | | 0.2 | 0.5 | 0.5 |” — Forecast table, Employment, Total Nonfarm, 2026 annual column · source ↗2026-08-130.5
2027 full year“| Percent Change: Q4/Q4 | | | | | | | | | | | | | 0.2 | 0.5 | 0.5 |” — Forecast table, Employment, Total Nonfarm, 2027 annual column · source ↗2026-08-130.5
2026 Q4“Employment, Total Nonfarm | 26.4 | 66” — Economic Forecast table · 2026 Q4 · source ↗2026-07-1066K/mo

U.S. personal consumption growth

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PeriodReportedForecast
2026 Q4“| Personal Consumption Expenditures (PCE) | 0.6 | 2.5 | 3.5 | 1.9 | 0.5 | 3.2 | 2.3 | 2.1 | 2.2 | 2.3 | 2.3 | 2.2 | 2.1 | 2.0 | 2.3 |” — Forecast table, Personal Consumption Expenditures (PCE), 2026 annual column · source ↗2026-08-132.0
2027 Q4“| Personal Consumption Expenditures (PCE) | 0.6 | 2.5 | 3.5 | 1.9 | 0.5 | 3.2 | 2.3 | 2.1 | 2.2 | 2.3 | 2.3 | 2.2 | 2.1 | 2.0 | 2.3 |” — Forecast table, Personal Consumption Expenditures (PCE), 2027 annual column · source ↗2026-08-132.3
2026 Q4“Personal Consumption Expenditures (PCE) | 26.4 | 2.4” — Economic Forecast table · 2026 Q4 · source ↗2026-07-102.4%

U.S. real GDP growth

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PeriodReportedForecast
2026 Q4“| Gross Domestic Product | -0.6 | 3.8 | 4.4 | 0.5 | 2.1 | 1.5 | 2.4 | 2.0 | 2.4 | 2.6 | 2.5 | 2.5 | 2.0 | 2.0 | 2.5 |” — Forecast table, Gross Domestic Product, 2026 annual column · source ↗2026-08-132.0
2027 Q4“| Gross Domestic Product | -0.6 | 3.8 | 4.4 | 0.5 | 2.1 | 1.5 | 2.4 | 2.0 | 2.4 | 2.6 | 2.5 | 2.5 | 2.0 | 2.0 | 2.5 |” — Forecast table, Gross Domestic Product, 2027 annual column · source ↗2026-08-132.5
2026 Q4“Gross Domestic Product | 26.4 | 2.2” — Economic Forecast table · 2026 Q4 · source ↗2026-07-102.2%

U.S. residential investment growth

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PeriodReportedForecast
2026 Q4“| Residential Fixed Investment | -1.0 | -5.1 | -7.1 | -1.7 | -7.8 | 1.5 | -2.0 | -0.5 | 2.5 | 2.4 | 4.5 | 4.2 | -3.8 | -2.3 | 3.4 |” — Forecast table, Residential Fixed Investment, 2026 annual column · source ↗2026-08-13-2.3
2027 Q4“| Residential Fixed Investment | -1.0 | -5.1 | -7.1 | -1.7 | -7.8 | 1.5 | -2.0 | -0.5 | 2.5 | 2.4 | 4.5 | 4.2 | -3.8 | -2.3 | 3.4 |” — Forecast table, Residential Fixed Investment, 2027 annual column · source ↗2026-08-133.4

U.S. unemployment rate

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PeriodReportedForecast
2026 full year“| Unemployment Rate | 4.1 | 4.2 | 4.3 | 4.5 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 |” — Forecast table, Unemployment Rate, 2026 annual column · source ↗2026-08-134.3
2027 full year“| Unemployment Rate | 4.1 | 4.2 | 4.3 | 4.5 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 | 4.3 |” — Forecast table, Unemployment Rate, 2027 annual column · source ↗2026-08-134.3
2026 Q4“Unemployment Rate | 26.4 | 4.4” — Economic Forecast table · 2026 Q4 · source ↗2026-07-104.4%