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MBA Releases 2022 Mortgage Market Forecasts

Home Industry News
By RISMedia Staff
December 27, 2021
Reading Time: 1 min read
MBA Releases 2022 Mortgage Market Forecasts

The Mortgage Bankers Association (MBA) recently released its economic and mortgage market forecasts for year-end 2021 and for 2022.

Here’s what the organization predicts.

For year-end 2021:

  • Purchase originations will rise to $1.61 trillion, eclipsing the previous all-time high of $1.51 trillion in 2005.
  • Refinance originations will come in at $2.32 trillion—down from $2.63 trillion in 2020 but the third highest level recorded.
  • Mortgage originations are expected to finish at around $3.93 trillion—slightly below 2020’s record year ($4.1 trillion).
  • After a decline of around 2.3% in 2020, the economy is expected to rebound to a growth rate of 5.5%.

For 2022:

  • Total mortgage originations could decrease to $2.61 trillion in 2022, as more of the activity shifts to the purchase market.
  • Refinance originations could drop to $870 billion.
  • Purchase originations could eclipse 2021’s record high and reach $1.74T, driven by strong housing demand and rising home prices and sales.
  • Home-price growth could moderate to 5.1%.
  • Mortgage rates could rise throughout the year and reach 4% by December 2022.
  • Economic growth could be at 4% in 2022, with the unemployment rate declining to 3.5% by the end of the year.

Source: MBA

Tags: FinancingForecastsIndustry NewsLendingMBAMortgageMortgage Bankers AssociationOriginationsreal estate news
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