Mortgage lending at U.S. banks will decrease in 2019 as rising borrowing costs reduce demand from homeowners to refinance their current homes.
Despite higher mortgage rates, demand for home-purchase loans will increase slightly in 2019 because of rising wages and slower home-price growth. Home-purchase loan originations should increase next year about 4% from 2018, according to the Mortgage Bankers Association. This year, purchase loan originations should increase around 3% from 2017.
Log in to see the rest of this article and the discussion
Kiplinger Alerts is a subscription-based e-mail and online alert service that helps you make more profitable decisions for your business and investments. You get reliable intelligence and forecasts on more than a dozen factors that affect the economy and are critical to your business and financial success.