House expense and cost, too expensive payment or high interest rate mortgage concept, heavy house broke savings piggybank metaphor of too much payment Credit/Adobe Stock

The Mortgage Bankers Association lowered its originations forecast again this month, but not as severely as it did in April.

Meanwhile, a report released Monday by FreddieMac economists said it expects "modest growth" in mortgage originations for purchases this year, largely driven by rising prices. "We expect refinance origination volumes to decline as homeowners have already secured low rates, posing potential challenge in the refinance market."

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Jim DuPlessis

A journalist for decades.