The forecast for mortgage originations for next year has been modestly raised. Meanwhile, this year’s refinance outlook grew at the expense of projected home purchase financing.
From Oct. 1 through year-end, American mortgage firms are expected to originate $428 billion in loans. Business it then expected to sink to $330 billion in the first-three months of next year.
But a strong recovery is expected for the second quarter of 2018, when residential loan production is projected to shoot up to $490 billion.
Source: Mortgage Daily