Industry NewsMarkets & Economy

Mortgage bankers see sales rebounding

Unemployment not expected to peak until next year
Published on Oct 14, 2009

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by CareyBot

The Mortgage Bankers Association projects double-digit growth in sales of both new and existing homes in 2010, even though the group expects unemployment will continue to climb and won't peak until the middle of the year.

The MBA expects sales of existing homes to rebound 11.2 percent next year, to 5.57 million, and for new-home sales to bounce back 21 percent from this year's projected "very low levels" of 398,000.