Although the annual volume of loans to finance a home purchase are forecasted to grow, a drop in projected refinances will drag down overall activity.

During the three months ended Sept. 30, single-family loan originations, including refinances and purchase financing, are expected to come to $500 billion.

National mortgage production from all U.S. home lenders is then projected to fall to $413 billion during the final-three months of this year.

Source: Mortgage Daily