Skip to main content

QM and Rise in Rates Force MBA to Drop 2014 Mortgage Origination Forecast to $1.12 Trillion

NationalMortgageProfessional.com
Jan 14, 2014

The Mortgage Bankers Association (MBA) has lowered its forecast for mortgage originations in 2014 by $57 billion to $1.12 trillion for the year, based on declining mortgage application activity and increasing interest rates. “Despite an economic outlook of steady growth and a recovering job market, mortgage applications have been decreasing— likely due to a combination of rising rates and regulatory implementation, specifically the new Qualified Mortgage (QM) rule,” said Mike Fratantoni, chief economist for MBA. “As a result, we have lowered our expectations for both purchase and refinance originations in the first half of 2014. Purchase originations are now expected to be $677 billion for 2014, compared to $711 billion forecast previously. Compared to 2013, purchase originations are expected to increase by 3.8 percent.” Refinance originations were revised lower as well and are now expected to be $440 billion in 2014, compared to $463 billion estimated previously. The updated refinance total is around 60 percent lower than 2013 refinance originations.
Published
Jan 14, 2014
KBRA Assigns Preliminary Ratings To SEMT 2021-6

Pool Of 497 First-Lien Loans Combined Have A Principal Balance Of Nearly $449M

Industry News
Sep 16, 2021
Fugo Appoints Bahlman As VP, Client Relations & Sales

Brings 19 Years of Experience To Texas-Based Back-Office Support Company

Industry News
Sep 16, 2021
Envoy Mortgage Expands To Atlanta

Envoy Mortgage lender expanded its Southeast operations to Atlanta, GA.

Industry News
Sep 15, 2021
FHFA Suspends Controversial PSPA Amendments

Today, the FHFA will be suspending controversial provisions added to the Preferred Stock Purchase Agreement (PSPA) on January 14, 2021.

Industry News
Sep 15, 2021
Covius Holdings To Acquire Nationwide Title Clearing

All 670 NTC Employees, Including Senior Management, Will Join Covius

Industry News
Sep 14, 2021
MBA Appoints AVP Of Diversity, Equity, & Inclusion

Promotes Amber Lawrence From Position As Associate Director Of Career Development Programs

Industry News
Sep 14, 2021