Where are interest rates and mortgage originations going in 2022?
According to the Mortgage Bankers Association’s annual forecast, they predict rising interest rates will significantly impact refinance demand in 2022. With the average interest rate on a 30-year fixed loan expected to rise a full percentage point than it is currently, refinance demand is expected to drop 62%. Originations for the purpose of buying a home, however, are forecast to rise 90% to a record of $1.73 trillion in 2022.
Read the full article on CNBC HERE.