Substantial Increase in Mortgage Origination Forecasts -MBA

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Posted To: MND NewsWire

Mortgage Bankers Association (MBA) economists joined in the recent surge of housing optimism Wednesday, increasing their projections for mortgage originations both this year and next. Saying that the housing market recovery has shifted to a higher gear, they now project that purchase mortgage originations will reach $801 billion in 2015 and $885 billion in 2016. The new numbers are an increase of $71 billion this year and $94 billion next year over their previous projections. Mike Fratantoni, MBA's Chief Economist, and senior economists Lynn Fisher and Joel Kan said they had also revised upward their estimates and forecasts for home sales and home prices while revising down estimates of cash transactions. All of these point to higher purchase originations. More sales are being financed, and...(read more)

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Source: http://www.mortgagenewsdaily.com/07222015_mortgage_originations.asp

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