The Mortgage Bankers Association raised its forecasts for economic growth this year based on better prospects for a faster vaccine rollout, a slowdown in COVID-19 infections and congressional approval of a large pandemic relief bill this spring, an MBA forecaster said Wednesday.
The monthly forecast released Feb. 19 also showed a major upward revision in refinance originations for the fourth quarter and the current quarter.
The MBA said it now expects refinance originations for 2020's fourth quarter to be $724 billion, 20% greater than the Jan. 20 forecast and 90% higher than a year earlier.
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