Freddie Mac has raised its estimate for 2012 originations to $1.45 trillion in its latest economic and housing market outlook, citing lower expected 30-year rates.

With rates now expected by Freddie’s economics team to end 2012 with an average of 3.9% for the year, down from the previous month’s estimate of 4%, refinancing could boost volumes further than originally expected, a spokesman said. Freddie Mac previously had forecast that 2012 would end with a total of just $1.3 trillion in originations.

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