Although the volume of purchase-money lending is forecasted to increase this year, it won’t be enough to offset the projected decline in refinances.
Overall residential loan originations are expected retreat from an estimated $1.850 trillion in 2016 to $1.557 trillion during all 12 months of this year.
Included in last year’s total is an estimated $0.947 trillion in loans to finance a home purchase. Purchase financing is projected to rise to $1.025 trillion in 2017.
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From:: Financing