Mortgage Banker's Report

Bankers expect 18% decline in mortgage originations in '08.

"Home sales, prices not expected to rebound until late next year," says MBA Chief Economist Doug Duncan

Duncan expects the pace of home sales to remain below 2007 levels until late next year, and said prices could continue to decline beyond that before flattening out in 2009. After adjusting for inflation, Duncan said nine months before investors in such securities regain their confidence , he said.