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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Haim R. Branisteanu who wrote (4310)4/14/2004 1:50:22 PM
From: mishedlo  Read Replies (1) of 116555
 
Mortgage rate hikes will be subdued: Mortgage bankers
Wednesday, April 14, 2004 5:48:35 PM

CHICAGO (AFX) -- Despite the recent spike interest rates, mortgage hikes should remain subdued the rest of the year, with the benchmark 30-year loan hitting 6 percent by the end of the year, according to a revised economic forecast from the Mortgage Bankers Association. Even over the next three years, mortgage should get no higher than about 7 percent, Doug Duncan, the trade group's chief economist, said Wednesday. The rate hikes will cool home sales, however: Duncan forecast a drop of 1.7 percent this year and 6.8 percent in 2005
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