Mortgage bankers have grown more optimistic in their projections for home purchase lending in 2017 and next year. All of this year’s improvement came in the final quarter.
Residential lending activity during the fourth quarter is forecasted to reach $393 billion. Business is then expected to drop to $355 billion in the first-three months of next year.
But during the second-quarter 2018, mortgage originations — including loans to finance a home purchase and refinances — are projected to soar to $445 billion.
Source: Mortgage Daily