MBA Forecast: Recession Likely in 2023, Mortgage Originations to Decline 9% to $2.05 Trillion

NASHVILLE—The Mortgage Bankers Association said total mortgage origination volume is expected to decline to $2.05 trillion in 2023 from the $2.26 trillion expected in 2022. Purchase originations are forecast to decrease by 3 percent to $1.53 trillion next year, while refinance volume is anticipated to decline by 24 percent to $513 billion.