Fannie Mae chief economist Doug Duncan on Monday raised his 2011 origination forecast to $1.2 trillion, up from a recent forecast of $1.09 trillion.
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Meanwhile, new survey figures compiled by National Mortgage News and the Quarterly Data Report show that both FRM lending and refinancings slipped in the second quarter.
Fixed-rate mortgages accounted for 84% of all new loans in 2Q, the weakest reading since the third quarter of 2008. The balance was ARMs.
Refis accounted for 57% of production in the second quarter, compared to 71% in 1Q. The refi reading was the weakest registered since 2Q 2010.
