Even though national home lending by all originators is expected to retreat this year, an increase in purchase financing is expected to push up next year’s overall production.

American mortgage bankers are expected to originate 4.2 million loans for $1.1212 trillion this year that will be used to finance the purchase of a single-family residence.

That’s an increase over 2017, when purchase-money production amounted to a downwardly revised 4.1 million mortgages for $1.0734 trillion.

Source: Mortgage Daily