The Mortgage Bankers Association (MBA) expects economic growth to continue through the rest of 2009 before slowing in the first half of 2010. Unemployment is expected to climb to 10.2 percent by the middle of 2010 before beginning to moderate as economic growth resumes sustained growth in the second half of the year.

Mortgage originations should reach $1.5 trillion in 2010. Modest increases in home sales should drive purchase originations, but refinance originations are expected to decline as mortgage rates rise.

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