Mortgage applications increased 55.4% from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 6, 2020.
In response to the current interest rate environment, MBA now forecasts total mortgage originations to come in around $2.61 trillion this year - a 20.3% gain from 2019's volume ($2.17 trillion). Refinance originations are expected to double earlier MBA projections, jumping 36.7% to around $1.23 trillion. Purchase originations are now forecasted to rise 8.3% to $1.38 trillion.
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