Despite industry-wide expectations of ongoing declines in refinance production, U.S. mortgage bankers see continued expansion ahead for the origination of loans to finance home purchases.

From April 1 through June 30 of this year, single-family loan originations — including refinances and purchases — are expected to come to $447 billion.

Mortgage production is then expected to inch up to $450 billion in the third quarter before tumbling to $370 billion during the final-three months of this year.

Source: Mortgage Daily