The second-quarter forecast for refinance originations has been raised — though the gain came at the expense of expected second-half production.

Overall U.S. single-family originations, including refinances and loans to finance a home purchase, are predicted to total $473 billion in the second quarter.

National mortgage production is then projected to fall to $436 billion during the following three-month period then retreat further — to $396 billion — in the fourth quarter.

Source: Mortgage Daily