Mortgage banking economists have improved their outlook for loan originations during the current quarter. Full-year expectations have risen for three months in a row.
From July 1, 2017, through Oct. 31, home-lending volume is expected to reach $455 billion. In the final quarter of this year, production is projected at just $348 billion.
The trough will occur in the first quarter of next year, when mortgage originations are expected to come in at only $345 billion.
Source: Mortgage Daily