Stellar Performance in 2004

Pollsen, Robert B.
April 2005
Mortgage Banking;Apr2005, Vol. 65 Issue 7, p42
The article reports that the U.S. residential mortgage-backed securities market continued to demonstrate extraordinary strength in 2004, For the third year in a row, mortgage market activity enabled transaction records established just a year ago to once again be broken. Rates on 30-year fixed mortgage loans hit a low of 5.38 percent during the week of March 4, 2004, and a high of 6.34 percent during the week of May 13, 2004, averaging about 5.84 percent for the year. Estimated originations of residential mortgages in 2004 dropped 18 percent to $2.87 trillion, down from a record $3.5 trillion in 2003, according to the Mortgage Bankers Association.


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