Behind MBA Revisions to Its 2015, 2016 Economic, Housing Forecasts

In summary, the Mortgage Bankers Association revised its 2015 originations total upward from $1.49 trillion to $1.63 trillion. Purchase originations for 2015 were revised from $821 billion to $881 billion, while refinance originations revised from $665 billion to $749 billion.  

The revisions were the result of examining updated data on 2015 applications, pull through rates, and several other factors impacting originations. Additionally, 2016 through 2018 estimates were also revised higher, but still showing steady growth in the purchase market with refinances declining as rates rise.  

(Joel Kan is associate vice president of economic forecasting with MBA; he can be reached at