Estimated 2016 originations of loan utilized to finance a home purchase were raised in the latest economic outlook. But the increase came at the expense of estimated refinance production.
Mortgage loan production by all U.S. lenders is expected to reach $413 billion during the concluding three months of this year.
Included in the fourth-quarter projection is an estimated $132 billion in refinance transactions and $281 billion in purchase-money lending.
Source: Mortgage Daily