The forecast for mortgage refinances during the second half of this year has been increased, though it was at the expense of the second-quarter estimate.

Total single-family loan originations, including refinances and mortgages to finance a home purchase, are expected to reach $500 billion in the third quarter.

Industry-wide mortgage production is then expected to diminish — tumbling to $413 billion during the final-three months of this year.

Source: Mortgage Daily