The latest forecast for overall residential loan production this year and next year has been beefed up by nearly $250 billion. But last year’s estimate of purchase financing was cut.
During the fourth quarter, $427 billion in single-family loans are expected to be originated by U.S. home lenders. The total includes loans to finance a home purchase and refinances.
Business is then expected to tumble to $359 billion in the first-three months of next year then rise to $476 billion during the second-quarter 2018.
Source: Mortgage Daily