Originations Headed for Best Post-Recession Year

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Posted To: MND NewsWire

Mortgage originations in 2019 appear to be headed for their best year since 2007 . Make Fratantoni, chief economist and senior vice president of the Mortgage Bankers Association (MBA) told an audience at MBA’s 2019 annual convention that he expects originations to total $2.06 trillion this year but to decline to around $1.89 trillion in 2020. Fratantoni, said geopolitical uncertainty and a slowdown in the global economy combined to be the driving force behind this year’s increased financial market volatility and drop in interest rates. He expects these headwinds to continue, which will lead to slower economic growth in the United States next year. MBA’s annual forecast predicts that purchase originations will increase by 1.6 percent to $1.29 trillion next year, but a decline in refinancing…(read more)

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