Sunday, October 16, 2011

Mortgage Lending Expected to Decline

This article talks about how mortgage lending will fall 25 percent next year. This will be the lowest sine 1997. This is due to demand being low and banks running out of qualified buyers to refinance. It is predicted that home loans will fall below one trillion dollars. The continued slow economic growth means that unemployment levels will remain high, which will slow the improvement in the foreclosure volumes. The refinancing share of loans will fall by more than 50 percent.

1 comment:

  1. This prediction is a tough pill to swallow. I am interested to see if mortgage lending actually will fall 25% next year. The way things are going right now though nothing can be out of the question.

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