New Home Mortgage Originations to drop through 2008
The Mortgage Bankers Association of America a Washington, D.C.-based trade group said it expects the total value of new mortgages and refinanced mortgages to drop 5 percent this year to $2.39 trillion from $2.51 trillion in 2006.
The association projected a further drop of 4 percent to $2.29 trillion in 2008 as refinancings weaken.
Total originations had declined 17 percent in 2006 from more than $3 trillion in 2005, a near-record year. [tags]mortgage, mortgage loans, home loans, refinanced mortgages, home mortgages[/tags] San Diego homes
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2 Comments
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With the real estate bust, this would seem very natural.
Sid
I’m buying a home not so much as an investment but as a place to live and raise a family.
Melissa
San Francisco California Attorney