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Forecast Predicts Increased Buying Activity For 2015

Forecast Predicts Increased Buying Activity For 2015

by DeVore Design, July 23, 2015

Sellers can expect increased activity in 2015, but professional real estate photography will become more important as buyers search for properties.  Professional real estate photography helps increase showings and increase overall exposure for listings and listing agents and brokers.

Based on a sustained pickup in the housing market recovery, the Mortgage Bankers Association (MBA) has revised its 2015 outlook to reflect higher origination volume overall and in the home-purchase segment.

Total originations, last projected by the group to climb 14 percent to $1.28 trillion this year, are now anticipated to surge 23 percent to $1.35 trillion.

With more applications expected to become actual loans, a process known as “pull-through,” the MBA also predicts that the pace of home-purchase mortgages will now spike 25 percent from 2014’s $801 billion. That’s up from a previous forecast of 14 percent gain ($730 billion).

“Overall, we believe that pull-through rates have increased, reflecting incremental but important changes in borrower behavior and lender underwriting practices, as well as changing average loan sizes and falling cash shares,” said MBA economists.

 

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