The latest mortgage origination forecast has next year’s production of loans to finance a home purchase coming in nearly $10 billion less than was expected just last month.

Single-family lending, including refinancing and purchasd financing, is predicted to reach $443 billion during the third quarter then fall to $404 billion in the final-three months of this year.

Expected business from all U.S. residential lenders is projected to reach a trough in the first quarter of next year, when mortgage originations are anticipated to be $338 billion.

Source: Mortgage Daily