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Why 2014 Will Be a Downer for Mortgage Lenders

Why 2014 Will Be a Downer for Mortgage Lenders

By Peter Miller, Contributor April 15, 2014 There’s little doubt that 2014 is going to be a tough year for mortgage lenders, something which has been apparent for some time. In January, the Mortgage Bankers Association predicted that refinancing volume would fall by 60 percent for the year. What could cause this huge decline? Could it be higher interest rates — or at least rates higher than the record lows seen in 2012 and early 2013? Or what about Dodd-Frank and all of its picky rules and regulations? There might be some reason to blame higher rates and new regulations except that if such claims were true then they would also be true for purchase money mortgages but that isn’t the case. Read Complete Article Print Email

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