MBA Revises Origination Projections Updwards for 2012, 2013

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Posted To: MND NewsWire

The Mortgage Bankers Association's ( MBA ) chief economist echoed much of what Freddie Mac's economists said this afternoon as he hiked MBAs estimates for mortgage originations both this year and in 2013. Jay Brinkmann said he expects to see the value of originations hit $1.7 trillion this year and $1.3 trillion in 2013. Next year's increases will be driven by a spillover of refinances from 2012 into the first half of 2013. The Association revised its 2012 estimates of refinancing to $1.2 trillion in 2012 and expects it to fall to $785 billion in 2013. At the same time it projects that purchase originations will climb to $585 billion next year, up from a revised estimate of $503 billion this year. Brinkmann said that the Association had expected originations in 2012 to be front-loaded into...(read more)

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