Prosperity just around the corner (for mortgage bankers)?
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Mortgage bankers are excited about the Fed’s plan to buy Treasury bonds and mortgage-backed securites, and a major industry trade group is estimating that the moves will spur $800 billion in additional mortgage activity.
The Mortgage Bankers Assn. has increased its projection of the value of mortgages taken out in 2009 to $2.78 trillion, the highest on record since the woo-hoo days of the bubble.
--Sharon Bernstein