The forecast for mortgage origination volume moved down for the first quarter of 2017 in the wake of the second interest rate hike by the Federal Reserve in a decade, according to data from the Mortgage Bankers Association.

The total volume of one- to four-family mortgage loan originations is expected to reach $352 billion in the first quarter, the MBA reported in its December Mortgage Finance Forecast released Wednesday following the Fed's announcement. In November, the MBA had predicted that first-quarter mortgage originations would add up to $365 billion.

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