Tuesday, October 26, 2010

Mortgages to Drop Below $1 Trillion in 2011 to Least Since 1996

I think this is extremely to hard to predict, since there is so much uncertainty in housing.  You have, mortgage rates, QE2, mortgage interest tax deduction, foreclosure-gate, and inflation.   It's not your typical business cycle.
Originations will decline to $996 billion in 2011, from a projected total of $1.4 trillion this year, the trade group said today in a statement released during its annual conference in Atlanta. Lending reached a record $3.8 trillion in 2003 as refinancing soared, with new loans remaining elevated over the next few years as home prices and sales boomed.
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