Forecaster iEmergent sees 2009 bottom in lending

Real estate brief

Purchase mortgage lending volume will bottom out in late 2009, but won’t get back in step with long-term trend lines until 2011 or 2012, market research and forecasting firm iEmergent projects.

The Des Moines, Iowa-based company estimates that total purchase mortgage volume will fall 4 percent in 2009, to 4.95 million loans totalling $837.9 billion. Total mortgage volume, including refinancings, will range from a low of $1.53 trillion to a high of $1.61 trillion, iEmergent said in its Preliminary Mortgage Volume Forecasts for 2009-2013.