It’s an understatement to say the housing market and overall economy has changed since October 2016 when the Mortgage Bankers Association put out its original economic forecast.
“Things are rapidly changing, so it’s good to have updates,” said Lynn Fisher, the Mortgage Bankers Association’s vice president of research and economics, in the association’s updated origination forecast for 2017.
“Our current forecast for mortgage origination volume is for it to be about $1.56 trillion in 2017, now that’s down from nearly $1.9 trillion in 2016. We expect that to flatten out a little bit in 2018 and come in at about $1.58 trillion,” she said in the video.
In its original forecast, the MBA predicted mortgage originations to hit a total of $1.63 trillion in 2017.
Watch the full video below for an updated forecast from the MBA.
