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iEmergent sees 18.3% decline in ’08 lending
An estimated 5.57 million mortgage purchase loans totaling $947 billion will be made this year, an 18.3 percent decline in dollars from 2007 and down 34 percent from 2006, according to projections from Des Moines, Iowa-based market forecaster iEmergent.

In its 2008 Mid-Year Mortgage Volume Forecasts, iEmergent projects refinance volume will range from a low of 5.4 million loans totaling $997 billion to up to 6.3 million loans valued at $1.16 billion.