A significant improvement in the forecast for refinance production has been made by Freddie Mac thanks to falling rates. Even expected purchase lending increased.
During the second quarter of this year, overall mortgage originations — including refinancing and purchase financing — are expected to total $512 billion.
Home-lending activity is then expected to decline to $469 billion three months later and $377 billion during the final-three months of this year.
Source: Mortgage Daily
