In addition to raising its estimate of first-quarter refinances, Fannie Mae boosted its forecast for refinance production during the following two quarters.

From April 1, 2017, through mid-year, overall U.S. originations — including purchase financing and refinancing — are expected to total $462 billion.

Home lending is then projected to recede to $423 billion in the third quarter and to $363 billion during the final-three months of this year.

Source: Mortgage Daily