Originations forecast through 2026 dampened' by inflation, GDP and labor market growth

Based on 2023 HMDA data, purchase mortgage volume is set to rise by 9% in 2024, driven by larger loan amounts rather than more originations.

Refinance transactions are expected to slightly increase to 18% of all originations in 2024, up from a record-low share of 17% in 2023.

In 2025, a mild decline in GDP growth may lead to lower mortgage rates and home prices, resulting in slightly higher origination levels despite recent historic lows.

Mortgage origination volume is predicted to approach 2022 levels in 2026, with moderating rates expected to fuel recovery in refinance transactions.

Read at www.housingwire.com