Advertisement
Stuart M. Saft releases two-volume set on commercial real estate workouts
iEmergent announces 2009-2013 Mortgage Volume Forecasts MortgagePress.comiEmergent, forecasting, Mortgage Volume Forecasts, Market Behavior Metrics tables, statistics, purchase mortgage lending volumes
iEmergent, a Des Moines, Iowa-based market research, forecasting
and advisory services firm for the financial services, mortgage and
real estate industries, issued its Mortgage Volume Forecasts for
20092013, including its Market Behavior Metrics tables, in order to
provide lenders details on the size, density and speed of growth of
mortgage lending opportunities.
The forecasts provide lending details regarding expected loan
volumes at the national, state, county and local community levels.
They also provide lenders data needed to assess mortgage lending
opportunities, develop business strategies, make growth decisions
and estimate the strengths and weaknesses of their current
positions in distinct markets. iEmergents comprehensive forecast
tables can be configured in any combination of markets to represent
the markets of interest to any type or size of mortgage lender.
Highlights of the forecasts for 2009 illustrating potential
market share and home financing opportunities for lenders
include:
" Total purchase volume: 4.29 million loans for $707.7
billion
Refinance volume range:
" Low: 3.29 million loans for $575 billion
" High: 3.66 million loans for $640 billion
Total mortgage volume:
" Low: 7.58 million loans for $1.283 trillion
" High: 7.95 million loans for $1.348 trillion
The 2009 forecast represents another five percent slide in
volume from current 2008 end-of-year estimates. The local impact
varies widely as lending trends continue to undergo significant
shifts in many individual markets while remaining solid and stable
in others.
The forecasts and data tables offer details on iEmergent's
estimate that purchase mortgage lending volumes will bottom out in
late 2009, but the rates at which individual markets generate
purchase mortgages will dip to levels not seen since the early
1990s and are not expected to recover long-term historical trends
until 2012.
"We expect the total volume to reach the bottom in 2009 and turn
upward in 2010, but lenders should be prepared for volumes in many
of their local markets and communities to drop even further if the
recession deepens, unemployment levels continue to rise, home
prices fail to stabilize and consumer confidence remains dismal.
Periods of increased uncertainty and volatility are precisely the
times to become more focused on local market dynamics, not less,"
said Dennis Hedlund, president of iEmergent. "4.3 million purchase
loans and 7.5 million total mortgage transactions or more is not a
total collapse. Lenders have had plenty of time the past 24 months
to look inward and re-structure, reduce costs and improve their
efficiency to match the new reality. Now it is time for them to
look outward and tailor their lending strategies to the local
markets where they need to compete effectively. Reaching,
attracting and capturing homebuyers requires more than personal
intuition or knowing the last two quarters loan counts. Knowing and
anticipating how the size, density and long-term growth rates of
the lending opportunities in local communities and homebuyer
segments are likely to change in the future will be crucial if they
expect to improve profit performance and sustain their growth
during these challenging times."
For more information, visit www.iemergent.com.
About the author