The Mortgage Bankers Association is projecting gross domestic product growth rates to exceed 4% each year through 2006.

The MBA also predicts that the 10-year Treasury rate will rise to an average 4.5% by the fourth quarter of 2004, and will continue to rise to reach 5.4% in 2006. Mortgage rates will follow a similar pattern, although the spread between mortgage and Treasury rates is expected to tighten.

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