Mortgage Forecasts Now Pulled Back Through 2023

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The Mortgage Bankers Association cut its forecasts for 2022 originations for the third month in a row, including an 11% cut in its expectations for refinances.

The latest forecast released Monday was dated June 10, the same day the U.S Bureau of Labor Statistics reported record inflation for May.

The MBA forecast revisions preceded other developments affecting the mortgage market:

On Thursday, the U.S. Census Bureau reported builders started construction on privately owned houses at a seasonally adjusted annual rate of 1.5 million, down 14.4% from April.

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