Exploring recent trends in digital originations for mortgage lenders, highlighting the role of fintech and AI in reshaping the lending process.
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The Mortgage Bankers Association has forecast a strong recovery for mortgage originations in 2024, following a modest recession that will bring down mortgage rates. So reports Business Insider.
According to the MBA’s projections, mortgage originations will total 5.2 million next year, up 19% from a projected 4.4 million loans for full-year 2023.
The MBA said that a mild recession in the first half of 2024 will give the Federal Reserve breathing room to cut interest rates, which will bring down mortgage rates.
