MBA revises 2021 purchase forecast to all-time high

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With the housing market’s strength enduring in the face of the COVID-19 pandemic, the Mortgage Bankers Association (MBA) on Tuesday made upward revisions to its projected originations for both 2020 and 2021.

Most notably, the MBA has bumped up its purchase originations forecast for 2021. In light of the robust sales pace and historically low rates leading to a wave of buyer demand, the MBA now expects $1.59 trillion in purchase originations next year. If realized, that would be a record high, surpassing the previous peak of $1.51 trillion set in 2005.

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