Mortgage bankers have lifted their latest forecast for the origination of loans to finance house purchases by $120 billion over the next three years. There was even a modest bump in the three-year refinance outlook.
In the final three months of this year, primary originators are expected to generate $385 billion in single-family loan production. The total includes purchase-money and refinance volume.
Mortgage originations are then expected to tumble to $326 billion during the first three months of next year before bouncing up to $448 billion in the second-quarter 2019.
Source: Mortgage Daily