The Mortgage Bankers Association on Wednesday raised its forecast for originations this year with another big increase in its forecast for first-mortgage refinances and a slight decrease in its purchase forecast.
The MBA raised its forecast by 3.1% for total originations for the full 12 months of this year compared with its June 18 forecast. It now expects first mortgage originations to come in at $3.57 trillion in 2021, down 6.6% from 2020. It started the year expecting a 24% drop.
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