The latest economic forecast has this year’s and next year’s mortgage refinances coming in over $300 billion higher than projected just last month. Expected purchase financing, though, diminished.
From July 1 through Sept. 30, total mortgage originations — including refinancing and purchase financing — are predicted to reach $490 billion, more than the $450 billion expected as of last month.
The fourth-quarter outlook was raised to $435 billion from $410 billion, while the projection for mortgage production during the first-quarter 2017 is now at $390 billion versus $380 billion in June.
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From:: Financing