This and next year’s expected origination of loans to finance home purchases was modestly elevated. But projected 2017 refinances, however, retreated.

During the first-three months of this year, U.S. residential lenders are predicted to originate $350 billion in mortgages, including purchases and refinances.

National mortgage production is then expected to jump to $431 billion in the second quarter and $418 billion during the following three-month period.

Source: Mortgage Daily