The 2009 Outlook
Brinkmann, Jay, Velz, Orawin, Mortgage Banking
Expect more tough times through the first half of the year, but MBA's forecast calls for total originations to be up by about 10 percent, nevertheless.
The current recession, which began in December 2007, will easily be the longest post-war recession, though likely not the most severe. The housing recession, which started in 2006 and was exacerbated by the financial crisis that began in August 2007, precipitated the economic recession. This is the first consumer-spending recession since 1991, in that it is the first time where we have seen a quarterly decline in consumer spending. * Consumer spending rose in the second quarter of 2008 when it was boosted by the one-time tax …
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Publication information: Article title: The 2009 Outlook. Contributors: Brinkmann, Jay - Author, Velz, Orawin - Author. Magazine title: Mortgage Banking. Volume: 69. Issue: 4 Publication date: January 2009. Page number: 22+. © 2009 Mortgage Bankers Association of America. Provided by ProQuest LLC. All Rights Reserved.
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