A 30-basis-point increase in expected interest rates has led to a small reduction in projected first-quarter mortgage production.
Total home-lending activity, including purchase financing and refinancing, is expected to reach $470 billion in the fourth-quarter 2016.
Originations are then expected to fall to $352 billion in the following period and bounce up to $430 billion in the second-quarter 2017.
Source: Mortgage Daily
