MBA lowers rate forecast and boosts lending outlook

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Mortgage Bankers Association issued a new forecast that predicts the U.S. rate for a 30-year fixed mortgage will average 3.7% in the third and fourth quarters of 2019, down from the 3.9% the group predicted for the same periods a month ago. Lower mortgage rates will boost loan originations 15% compared to last year, according to the forecast issued on Friday.