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Thursday, June 09, 2005


MBA sees 30-yr fixed mortgages at 6 pct by end '05  

The Mortgage Bankers Association lowers prior forecast for 30-year mortgages for the end of 2005.
June 9, 2005: 11:03 AM EDT

WASHINGTON (Reuters) - The Mortgage Bankers Association's chief economist said Thursday he expects 30-year fixed rate mortgages to reach 6.0 percent by the end of this year, lowering his prior forecast.

Doug Duncan, MBA's chief economist and senior vice president, had said in May he expected long-term mortgage rates to climb to 6.5 to 6.6 percent by the end of 2005.

He said the new forecast reflected a decrease in 10-year Treasury bond rates which have kept mortgage rates low. Duncan said mortgage originations should total about $2.6 trillion by the end of 2005.

MBA sees 30-yr fixed mortgages at 6 pct by end '05 - Jun. 9, 2005


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