May 20, 2019 / 8:17 PM / a month ago

New U.S. mortgages seen rising to $1.682 trillion in 2019: MBA chief economist

NEW YORK (Reuters) - Total originations of U.S. mortgages on one-to-four family homes is expected to rise to $1.682 trillion in 2019, up from $1.643 trillion in 2018, on resilient home sales, the Mortgage Bankers Association’s chief economist said on Monday.

A modest pickup in home sales this year would help raise issuance of loans for that category to $1.244 trillion from $1.185 trillion last year, Michael Fratantoni told reporters at a press conference during MBA’s National Secondary Market conference.

Reporting by Richard Leong; Editing by Richard Chang

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