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:
Washington -- Expect single-family mortgage origination to decline by 10% to 20% in 2005, according to two secondary market economists as refinancing and the home sales market cool off. Fannie Mae chief economist David Berson sees originations falling from $2.74 trillion in 2004 to $2.15 trillion this year.
His pessimistic forecast is based on home sales declining by 7%-8% and house price appreciation slowing to 3.5%. His cross-town rival at Freddie Mac expects 2005 loan production will decline by only 10% to $2.42 trillion.
Freddie chief economist Frank Nothaft expects home sales will slow by 4%-6% from 2004's record ...