First Time Purchase Originations Break $1 Trillion Level Since 2007

The Mortgage Bankers Association (MBA) announced today that it forecasts $1.10 trillion in purchase mortgage originations during calendar year 2017, an 11 percent increase from 2016. In contrast, MBA anticipates refinance originations will decrease by 40 percent, resulting in refinance mortgage originations of $529 billion. In total, mortgage originations are expected to decrease to $1.63 trillion in 2017 from $1.89 trillion in 2016.

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