Mortgage Bankers Association finds decrease is linked to improved housing market, tight credit conditions.
According to 2013 HMDA data, refinances topped purchase money loans.
CUNA, NAFCU and other trades also ask for written guidance.
Read five major concerns trade associations air in their risk-based capital comment letters to the NCUA.
The Mortgage Bankers Association revises its 2014 purchase money forecast after lending lags this year.
The Mortgage Bankers Association has lowered its forecast for 2014 mortgage originations nationwide.
A drop in refinancing activity, increased regulation and a sluggish market for purchase mortgages make 2014's first quarter discouraging.
Purchase mortgages are down 15% from MBA forecasts, but this winter's inclement weather is at least partly to blame.
This Opinion piece looks at how credit unions can better position themselves in a mortgage market skewing towards purchase and away from refinance.
From refinancing to new money mortgages but market overall continues to struggle.