Commercial and multifamily mortgage bankers' loan originations were 17.3 percent higher than the second-quarter-2005 level, according to a Mortgage Bankers Association report released today. The year-over-year increase during the second quarter was led by solid gains among all property types, while commercial banks led the increases among investor types. Second-quarter loan originations were up 23.3 percent compared to the first quarter of 2006, while year-to-date originations for 2006 are 24.3 percent higher than at the same time last year. "Origination activity remains strong and, while the Federal Reserve has been raising short-term rates, long-term rates have actually been falling recently," said Doug Duncan, MBA chief economist and senior vice president of research and business development. "Our forecast calls for some moderation in economic growth with interest rates stable through the rest of the year. Continued low intermediate and long-term rates, as well as ample supply of a...
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