A survey of 200 mortgage lending professionals showed that nearly two in three mortgage lending professionals expect mortgage purchase production to increase, according to Lenders One Mortgage Barometer.
The overall anticipated increase for 2016 is set at 11%. In addition, 87% of mortgage professionals believe the mortgage purchase market will be somewhat to extremely active.
The survey was conducted online to a random 200 mortgage lenders, and independent research was also conducted by Market Intel Group in January, where it showed that 79% of millennials, are now reaching the peak age for home buying
Lenders One is a national alliance of independent mortgage bankers, correspondent lenders.