home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Real Estate News | Real Estate Statistics
Residential real estate news and coverage of how residential real estate impacts the mortgage industry and residential mortgage-backed securities.

Economists Predict Rest Of Year To Be a Busy One For Housing Industry

Indicators seem to be in line with record year for residential financing

July 10, 2003

By MortgageDaily.com staff

Housing and residential financing industries should march steadily along into the record books for 2003, leading economists said.

In a conference call presented by the Homeownership Alliance Wednesday, five industry experts agreed that the residential housing sector of the economy would continue its robust activity for the second half of 2002.

Paul Merski, chief economist for the Independent Community Bankers of America, noted the explosive activity in the mortgage industry, adding that there are "very few signs of that slowing in the months ahead."

He noted two "key factors" he believes to be driving the boom. "I think we've seen a fundamental shift in consumer's portfolio thinking. Consumers really want to hold real assets in their portfolio...We've also seen multiple refinancing as a routine activity for many households over the last two years....with rates being as low as they are now," he said.

He predicted $3.2 trillion in mortgage loans for 2003.

The analysts discussed different market conditions that indicate the economy is in a sluggish recovery. There was general agreement that the Federal Reserve Board would keep the federal funds rate steady for the next year or so.

David Seiders, chief economist for the National Association of Home Builders, pointed out that the high level of cash-out refinances and home equity loans has kept the economy afloat.

He also said that the low federal funds rate, coupled with the tax cuts, would push the economy forward during the second half of 2003.

David Berson, Fannie Mae's chief economist, agreed that the market was poising itself for growth and a sustained low federal funds rate.

Indicating that an economic recovery is already in progress, Freddie Mac's chief economist Frank Nothaft discussed his analysis of delinquencies and foreclosures and their relationship to economic upturn. He said that historically, the lag time between the onset of recovery and the peak of deliquencies is 12-18 months.

Nothaft said he believes that deliquencies, which are hitting their highest levels in the last four years, will continue to rise in the near term, peaking in the next six-12 months, then falling off.

As for long-term interest rates, the economists foresee a gradual rise toward the end of 2003, with the general consensus putting the 30-year rate under six percent at the end of 2003.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders