The latest housing forecast from the Federal National Mortgage Association reflects a $28 billion reduction in projections for purchase financing this year and next year.

For just the third quarter of this year, Fannie Mae predicts $446 billion in purchase and refinance single-family originations by all U.S. lenders.

In the final-three months of the year, volume is expected to fall to $398 billion and retreat more — to $340 billion — in the first-quarter 2019.

Source: Mortgage Daily