After peaking in the second quarter, the nation’s mortgage bankers predict that loan originations will decline each of the following three quarters.
Industry-wide mortgage production is expected to fall from $463 billion in the second quarter to $455 billion in the current three-month period.
Home lending is then projected to continue dropping, to $348 billion in the final quarter of this year and $345 billion in the first-three months of next year.
Source: Mortgage Daily