House expense and cost, too expensive payment or high interest rate mortgage concept, heavy house broke savings piggybank metaphor of too much payment Source: AdobeStock.

The Mortgage Bankers Association expects a recession early next year that will take a bigger bite out of origination volumes than it expected a month ago and lead to more layoffs by lenders.

MBA cut its forecast by 15% for the fourth quarter and by about 8% over the next two years from its Sept. 19 forecast.


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Jim DuPlessis

A journalist for decades.

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