Freddie Mac has improved its outlook for industry-wide single-family lending this year and next year by $140 billion. A majority of the increase went to home purchase financing.
In its July 2017 Economic & Housing Market Forecast, the secondary lender predicted mortgage originations will be $485 billion in the third quarter, down from $529 billion three months earlier.
Freddie revised up its third-quarter projection from $469 billion in its June forecast, while the second-quarter estimate increased from $512 billion.
Source: Mortgage Daily