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decline in mortgage delinquencies shown with a down arrow hovering above homes and commercial buildings. Source: Shutterstock.

The Mortgage Bankers Association on Wednesday lowered its forecast for both refinance and purchase originations this year and next as interest rates rise faster than it anticipated and expectations rise for more aggressive actions by the Fed to curb inflation.

MBA Chief Economist Mike Fratantoni said mortgage rates have risen by more than 1.5 percentage points since Jan. 1.

Jim DuPlessis

A journalist for decades.

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