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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
TED DAVID, CNBC ANCHOR: Well, the chief economist of the Mortgage Bankers Association said yesterday long-term mortgage rates should hit 6 percent by year`s end, 6 1/2 percent by the end of `06. Could the prospect of higher rates take some of the wind out of the sails for the hot mortgage and re-fi market? William Emerson is CEO of Quicken Loans, one of the nation`s biggest online lenders, and he joins us from Farmington.
How are you sir, nice to see you?
WILLIAM EMERSON, CEO, QUICKEN LOANS: I`m doing great, Ted. It`s great to be here.
DAVID: Let`s talk about these home sales data. First, the new home sales data today, which are really very good. Existing home sales data yesterday, not so good. What`s going on here?
EMERSON: Well, the new home sales, I think it`s a great thing to see. It`s a smaller piece of the market. It`s about 18 percent of the market. The big number is existing home sales and you`ve got...
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