March 12, 2020 / 8:59 PM / a month ago

BRIEF-Fannie Mae Says Covid-19 Outbreak And Sharp Decline In Oil Prices Are Likely To Result In Decreased Economic Growth

March 12 (Reuters) - Federal National Mortgage Association :

* FANNIE MAE - COVID-19 OUTBREAK AND SHARP DECLINE IN OIL PRICES ARE LIKELY TO RESULT IN DECREASED ECONOMIC GROWTH

* FANNIE MAE - IF CRISIS WORSENS CONSIDERABLY OR LASTS LONGER THAN FEW MONTHS, MORE SUBSTANTIAL SLOWDOWN OR CONTRACTION IN GLOBAL ECONOMY IS POSSIBLE

* FANNIE MAE - LOW MORTGAGE RATE ENVIRONMENT LIKELY TO SUPPORT HOUSING, SPUR REFINANCE ACTIVITY

* FANNIE MAE - REAL GDP GROWTH IS NOW FORECAST TO APPROACH ZERO IN Q2 BEFORE AN EXPECTED RECOVERY IN SECOND HALF OF YEAR

* FANNIE MAE-EXPECTS FEDERAL RESERVE TO MAINTAIN ITS ACCOMMODATIVE POSTURE, REDUCE FEDERAL FUNDS RATE BY ADDITIONAL 50 BASIS POINTS AT ITS NEXT MEETING

* FANNIE MAE - IF CRISIS WORSENS CONSIDERABLY OR LASTS LONGER THAN FEW MONTHS, MORE SUBSTANTIAL SLOWDOWN OR CONTRACTION IN GLOBAL ECONOMY IS POSSIBLE

* FANNIE MAE - IN EARLY 2021, ASSUMING GREATER ECONOMIC STABILITY, EXPECTS FED TO BEGIN RAISING RATES

* FANNIE MAE - ESR GROUP EXPECTS FEDERAL RESERVE TO MAINTAIN ITS ACCOMMODATIVE POSTURE

* FANNIE MAE - UNCERTAINTY AND HEIGHTENED FINANCIAL VOLATILITY MAY SOFTEN DEMAND FOR “BIG TICKET” ITEMS INCLUDING HOME PURCHASES

* FANNIE MAE - ESR GROUP EXPECTS HISTORICALLY LOW MORTGAGE RATES TO PROVIDE SOME OFFSETTING RELIEF

* FANNIE MAE - RECENT SHOCKS TO GLOBAL ECONOMY ARE UNPRECEDENTED AND HAVE INTRODUCED IMMENSE UNCERTAINTY INTO OUR ECONOMIC FORECAST

* FANNIE MAE-LOWER INTEREST RATE ENVIRONMENT LIKELY TO CONTINUE TO SUPPORT HOUSING,FUEL SURGE IN REFINANCE ACTIVITY, EVEN AS MACROECONOMIC GROWTH SLOWS Source text for Eikon: Further company coverage:

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