The U.S. housing finance market may be poised for a historic shift away from a long trend of primarily refinancing existing real estate loans to primarily funding new real estate purchases.
In its May forecast, the Mortgage Bankers Association estimated that the market shift would take place sometime in the middle of this year. The Washington-based association has forecast refinance loans at 74% of the mortgage originations in the first quarter of this year and 67% in the second quarter, but only 46% in the third quarter and falling to 42% by the end of the year.
Read More in This Week's Lending Focus Report:
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
