求翻译：The effect of rising rates on residential mortgage originators and servicers will also subsume lingering aftershocks from the recession. Short-term weakness in residential origination volume will depress refinancing volumes more than improving economic conditions support home purchases. An uptick in home prices, if it were to occur, wouldn't have much effect on cash-out refinancing because so many borrowers remain underwater. We believe the origination overcapacity remains high.是什么意思？

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