AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Economists Anticipate Slower Refinancing Rate.
WASHINGTON -- The long-term outlook for mortgage lending volume is, well, not exactly rosy, according to the most recent numbers released by the Mortgage Bankers Association.
On the other hand, a decline in lending volume after a record-breaking refinancing boom is probably to be expected. And servicers should welcome the slower rate of portfolio churning.
Whether the glass looks half full or half empty depends upon your perspective, but here's what the MBA economics team has forecast in their latest long-term projections. Single-family residential home loan volume will total $2.379 trillion this year, down from $2.912 trillion in 2005. More tellingly, the MBA expects 2007 volume to total $2.239 trillion, a slight decline from the 2006 projection. The 2008 forecast calls for volume in the $2.330 trillion range.
The MBA's economists expect refinancing to remain relatively stable over the next three years after dropping sharply from 48% in 2005. The MBA expects refinancing to account for 38% of home loan applications this year, 34% next year and 36% in 2008.
The MBA also sees the adjustable-rate share of the mortgage market dipping over the next three years. ARMs accounted for 30% of home loans originated last year. The MBA projection has the ARM share slipping to 25% in 2006, 22% in 2007 and 21% in 2008.
After rising from 2005 levels, the MBA also foresees relative stability in mortgage rates. The average 30-year rate on home loans originated in 2005 was 5.9%, according to the MBA. The industry association sees the 30-year rate averaging 6.6% this year, 6.9% in 2007 and dipping back to 6.6% in 2008.
That reflects an expectation that the 10-year Treasury rate will average 5.0% this year, 5.2% next year and 5.0% in 2008. The 10-year Treasury averaged 5.9% last year.
- MBA expects RM20m income.
- Newspaper article from: New Straits Times December 15, 2001 700+ words
...MALAYSIA British Assurance Bhd (MBA) expects to record an investment income...million in its current financial year ending June 30, 2002 following...of RM18.3 million for its year ended June 30, 2001 against...RM19.6 million the previous year. The loss was due to the bearish...
- MBA Expects Refis to Slow.(Mortgage Bankers Association of America;...
- Magazine article from: Mortgage Servicing News Cornwell, Ted April 1, 2002 700+ words
...percentage points from last year's record 57% refinancing...to total $520 billion this year. That's no small number by...mortgage servicing industry this year. He reminded lenders that much...for 15, 20, maybe even 30 years," he said. On the consolidation...
- MBA EXPECTS TO RETURN TO BLACK IN 2002 FY.
- News wire article from: BERNAMA The Malaysian National News Agency December 14, 2001 700+ words
...to return to the black for the financial year ending June 30, 2002, its chief executive...tax loss of RM18.3 million for the year ended June 30, 2001, compared with a...profit of RM19.6 million in the previous year. The losses was mainly attributed to the...
- MBA expects originations to soar in 2005, followed by a decline.
- News wire article from: The America's Intelligence Wire January 10, 2006 700+ words
...total $1.49 trillion this year, will remain relatively stable...as $1.28 trillion this year, is seen dropping to $785...continue for the next three years. Duncan added that, with the...declining through the middle of next year, according to the MBA. ARM...
- MBA expects originations to soar in 2005, followed by a decline.(Mortgage...
- Newspaper article from: Asset Securitization Report Sibayan, Karen October 31, 2005 700+ words
...total $1.49 trillion this year, will remain relatively stable...as $1.28 trillion this year, is seen dropping to $785...continue for the next three years. Duncan added that, with the...declining through the middle of next year, according to the MBA. ARM...
- Long-Term Forecast Also Sees Lower Prepay Volume.
- Magazine article from: Mortgage Servicing News March 1, 2006 700+ words
...by the end of 2008. The MBA expects house price appreciation to moderate this year from the double-digit rates seen in recent years. The MBA expects home sales volume to decline this year and next from the record...
- MBA: Big Drop In Refinancing.
- Magazine article from: National Mortgage News February 6, 2006 700+ words
...by the end of 2008. The MBA expects house price appreciation to moderate this year from the double-digit rates seen in recent years. The MBA expects home sales volume to decline this year and next from the record...
- MBA Anticipates Relatively Stable Loan Volume.
- Magazine article from: National Mortgage News July 24, 2006 700+ words
...next three years after dropping...2005. The MBA expects refinancing...applications this year, 34% next...2005. The MBA expects existing...million this year, down from...million last year. New home...the three years, hovering...2005. The MBA expects ...
- Rates Drop Below 6%, But Refis Hardly Surging.
- Magazine article from: Mortgage Servicing News February 1, 2008 700+ words
...beginning in the second half of this year, ending the year at a still attractive 6.2%. The MBA expects 10-year Treasury rates - a key indicator of...their lowest level in more than two years," Mr. Nothaft said in a news release...
- MBA Seeks Diversity At Servicing Meeting.
- Magazine article from: National Mortgage News Cornwell, Ted February 17, 2003 700+ words
...inflation. This year, the MBA sees...that we saw last year." The MBA expects to be involved...the last several years. The MBA estimates...home loans last year, with refinancing...contracted. While the MBA expects interest rates...
Source: HighBeam Research, Economists Anticipate Slower Refinancing Rate.