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Mortgage forecasts lowered for 2014

Tue 14 Jan 14 | 12:00 AM ET
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Mortgage forecasts lowered for 2014

Tue 14 Jan 14 | 12:00 AM ET
Rising interest rates and a still slow housing recovery have some of the nation's largest banks reporting huge drops in residential mortgage originations and as CNBC's Diana Olick reports, the bulk of the drop is in refinance applications, expected to drop 60 percent in 2014 from 2013.
 
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