The Mortgage Bankers Association bowed to market reality last week and lowered its forecast for 2014 mortgage originations nationwide.
The association, which counts credit unions among its members, forecasts housing finance performance by tracking economic, housing and interest rate data, along with reports of mortgage applications and underwriting.
The association dropped its forecast for the value for overall mortgage origination in 2014 from the $1.080 trillion it expected in March to the $1.065 trillion it forecast in April.
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