Mortgage originations are estimated to reach a total value of $1.2 trillion in 2014, a 32% drop from 2013 levels, the Mortgage Bankers Association said Tuesday.
The trade group elaborated on some of the trends expected next year:
“We expect mortgage rates will increase above 5 percent in 2014 and then increase further to 5.3% by the end of 2015. As a result, mortgage refinancing will continue to drop, and borrowers seeking to tap the equity in their homes will be more likely to rely on home equity seconds rather than cash-out refinances.”
“We will potentially see a small increase in refinances toward the end of 2015 as the Home Affordable Refinance Program 2.0 (HARP) expires but HARP activity during 2014 will still be low.”
http://www.housingwire.com/articles/27690-mba-mortgage-originations-to-drop-32-in-2014
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
This website uses cookies.