Higher Rates Strangle Mortgage Market

The Mortgage Bankers Association, an industry trade group, dramatically cut its forecast for 2009 mortgage originations in the US to just over $2 trillion. The new estimate, down a whopping 27% from the March figure, is said to reflect an environment of rising mortgage rates and an increasing share of purchases going to all-cash buyers. [...]

June 23, 2009 | Comments »