With one week still left, the second quarter of 2009 is shaping up to be a very big period for mortgage volume. According to new numbers compiled by Inside Mortgage Finance, some $548.1 billion in agency MBS already has been produced this quarter–making 2Q09 the third largest quarter ever. This near-record agency MBS issuance is expected to translate into more than $700 billion in mortgage originations for the second quarter. This would mark a 57 percent jump from the first quarter when $445 billion in loans were made, according to Inside Mortgage Finance.
While the second quarter is expected to end with a bang in terms of total mortgage activity, less clear is what will happen in the third quarter as the impact of higher mortgage rates starts to be felt. The Mortgage Bankers Association this week reduced its mortgage origination forecast for the full year to $2.1 trillion. That would mean that third and fourth quarter mortgage originations will average only about $500 billion per quarter in the second half.
July 14, 2009 at 6:18 pm |
this post gave me reason to think, thanks…