July 13, 2024

San Diego homeThe Mortgage Bankers Association of America a Washington, D.C.-based trade group said it expects the total value of new mortgages and refinanced mortgages to drop 5 percent this year to $2.39 trillion from $2.51 trillion in 2006.

The association projected a further drop of 4 percent to $2.29 trillion in 2008 as refinancings weaken.

Total originations had declined 17 percent in 2006 from more than $3 trillion in 2005, a near-record year. [tags]mortgage, mortgage loans, home loans, refinanced mortgages, home mortgages[/tags]  San Diego homes

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