Mortgage Bankers Assocation expects mortgage activity to slowBy
The Mortgage Bankers Association today significantly lowered its 2009 mortgage origination forecast to 2.03 trillion, a drop of $700 million below its March projection. The primary reason: higher interest rates. Interest rates climbed from 5.19 on March 25 to 5.76 on June 17, according to Bankrate.com.
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