Purchases Only Refinances are Wrong!

By
Mortgage and Lending with CrossCountry Mortgage Inc NMLS# 235090

As a backup to a blog I just posted, I thought I would also show some numbers to all those LO's out there who are being told you have to only do Purchases because if you stick to refis, when the rates go up you will be out of business.

 

MBA Increases Originations Estimate for 2012 by Almost $200 Billion


"The Mortgage Bankers Association (MBA) today announced it is increasing its mortgage origination forecast for 2012 by almost $200 billion, due entirely to an increase in refinances. MBA now expects that mortgage originations will reach $1.28 trillion in 2012, up from $1.26 trillion in 2011. 

Refinance originations are now expected to total $870 billion in 2012, an almost identical amount to 2011. MBA is slightly lowering its purchase originations forecast for 2012 from $415 billion to $409 billion."



Just some fun numbers for you to look at today. Now go Originate!


Happy Fundings!

Comments (0)