Bankers expect 18% decline in mortgage originations in '08

Home sales, prices not expected to rebound until late next year

EMBRACE. FOCUS. EXECUTE. Build your 2019 roadmap to success with 4,000+ real estate leaders.
Inman Connect New York | January 29 - February 1, 2019

BOSTON — Mortgage originations are expected to fall 18 percent in 2008, dropping below the $2 trillion mark for the first time since 2000, the Mortgage Bankers Association said Tuesday.

Although economic fundamentals remain sound, housing is “clearly in a deep recession,” said MBA Chief Economist Doug Duncan, briefing reporters at the group’s annual convention in Boston.