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Federal National Mortgage Association Fannie Mae (FNMA) guidance and outlook

Federal National Mortgage Association Fannie Mae's 10-Q filed Oct 28, 2026 makes 60 forward-looking statements, 13 of them new and 13 no longer said since the filing before.

Guidance and outlook

Forward-looking statements, 10-Q filed Oct 28, 2026

• In “MD&A—Key Market Economic Indicators” in our 2025 Form 10-K, we discuss how varying macroeconomic conditions can influence our financial results across different business and economic environments, and we provide forecasts and expectations with respect to some of these macroeconomic conditions.
• Below we provide an update to these forecasts and expectations, as well as updates to certain macroeconomic information.
• Our forecasts and expectations are based on many assumptions, subject to many uncertainties and may change, perhaps substantially, from our current forecasts and expectations.
• new · Based on our expectation of a seasonal decline in home prices in the fourth quarter of 2026, we expect home price growth of 2.7% on a national basis for the full year of 2026.
• We also expect regional variation in the timing and rate of home price changes.
• new · We expect GDP growth to continue in the second half of 2026.
• We expect the unemployment rate to remain relatively stable in the fourth quarter of 2026.
• The impact of trade, fiscal, monetary, regulatory, and immigration policies is uncertain and could materially impact our outlook for interest rates, home price growth, economic growth, and the unemployment rate.
• Our housing and economic outlook also could be affected by the impact of geopolitical events, including the continuation or worsening of the conflict in the Middle East.
• (5) Primarily consists of foreclosed property income (expense), change in the expected benefits from our freestanding credit enhancements, and gains (losses) from partnership investments.
• The other chart below (on the right) presents guaranty fees that will be amortized into deferred guaranty fee income in future periods, which we refer to as “unamortized deferred guaranty fees,” as described in “MD&A—Consolidated Results of Operations—Net Interest Income—Analysis of Unamortized Deferred Guaranty Fees” in our 2025 Form 10-K.
• The table below presents our single-family and multifamily benefit or provision for credit losses and the change in expected credit enhancement recoveries.

Federal National Mortgage Association Fannie Mae's latest quarter

Questions

What does Federal National Mortgage Association Fannie Mae expect?

Based on our expectation of a seasonal decline in home prices in the fourth quarter of 2026, we expect home price growth of 2.7% on a national basis for the full year of 2026. We expect GDP growth to continue in the second half of 2026. Our single-family provision for credit losses in the first nine months of 2026 was primarily driven by provision related to loans acquired during the period for our single-family guaranty book of business, loans that became newly delinquent, and higher actual and projected interest rates.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.