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[28 Aug 2011 | One Comment | 2,311 views]
Bankers expect modest increase in purchase mortgages

The national Mortgage Bankers Association is expecting an increase in purchase loans in 2012, but not a large one.
The Association, on Aug. 19, increased its origination forecast for 2011, but dropped if for next year. Still, the trade group expects to see an increase in purchase mortgages next year after a decidedly stormy 2011.
The good news from the latest forecast has to do with total residential mortgage originations. The Association projects a total of $1.1 trillion in residential mortgage originations this year, up $100 billion from earlier forecasts. That boost, …