The expected volume of residential loan originations has been cut by $56 billion for this year and next year. Last year’s refinance estimate, meanwhile, has been boosted.
From Jan. 1, 2018, through the end of March, $369 billion in mortgages, including loans to finance a home purchase and refinances, are expected to be closed.
Business is projected to climb to $467 billion in the second quarter before falling to $447 billion during the following three-month period.
Source: Mortgage Daily