Mortgage Lending Seen Plunging 36%

26 Jan 2011

Mortgage lending in the U.S. may plunge 36% in 2011 to its lowest level since 1997, according to Mortgage Bankers Association.

Mortgage lending in the U.S. may plunge 36% in 2011 to its lowest level since 1997, according to Mortgage Bankers Association. High unemployment, borrowers’ weak credit and tighter lending have all contributed to the projection of $966 billion, down from $1.5 trillion in 2010. Jay Brinkman, chief economist ...

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