Mortgage loan volume estimates 2015

This morning the existing home sales numbers came in stronger than expected.  2015 has been a good year for home sales as interest rates remain relatively low.  The Mortgage Bankers Association is predicting a strong finish in home sales for 2015.  They expect mortgage loan volume to increase as home loan rates remain low.  They are expecting home loan volume to rise to $801 billion for 2015 which is an upward revision from the $730 billion forecast last month.  Pull through rates are improving as well (the process in which an application is approved and funded) as more home owners look to buy homes with mortgages (rather than all cash purchases).  While purchase application volume has slipped in recent weeks it’s still nearly 20% higher than last year.