MBA forecasts strong economic growth for 2006

MBA forecasts strong economic growth for 2006: "WASHINGTON, DC -- Feb, 6, 2006 -- The Mortgage Bankers Association (MBA) is projecting continued strong economic growth of 3.5 percent for 2006, with moderate, below-trend growth of 3.3 percent in 2007, according to its recent three-year economic forecast update. Total residential mortgage production in 2006 will be $2.24 trillion, the fifth-biggest year on record, but a 19.5 percent decline relative to 2005.

'We expect economic growth to remain solid in 2006, but we will begin to see below-trend growth for 2007,' said Doug Duncan, MBA chief economist and senior vice president for research and business development. 'Housing will decline modestly from the fifth consecutive record year in 2005, but will remain robust historically. Home price appreciation rates will moderate compared to recent years.'"