The forecast for refinance production during the second half of this year has been increased by mortgage banking economists. But expected outstandings have been reduced.
From July 1, 2017, through Sept. 30, single-family loan originations are expected to reach $465 billion. Lending activity is then expected to fall to $370 billion in the fourth quarter.
A further decline is predicted for the first-three months of next year, when home lenders are expected to generate just $345 billion in residential loan production.
Source: Mortgage Daily