Rising Rates Cause MBA to Lower 2014 Mortgage Forecast
Although the housing market has been making a steady recovery over the past year, the Mortgage Bankers Association is now backtracking on overly optimistic home loan forecast for 2014. After initially predicting that mortgage originations would rise to $1.69 trillion this year, the revised forecast calls for a only $1.12 trillion, a decrease of $57 billion. “Despite an economic outlook of steady growth and a recovering job market, mortgage applications have been decreasing – likely due Read more [...]
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