The low mortgage rates that propelled the housing market throughout the COVID-19 pandemic will rise later in the year, but they’ll do so gradually, Freddie Mac said Thursday in its quarterly outlook. That will give more homeowners a final opportunity to refinance their mortgages.
The gradual rate climb has led Freddie’s economists to increase their projections on mortgage origination volume this year. In their estimation, 2021 will rival last year’s incredible performance of $4 trillion in origination volume.
Freddie Mac now forecasts total mortgage originations in 2021 to check in at $3.9 trillion in 2021, up from details ⇒
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