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SAN DIMAS, Calif. — A year ago you could find a debate on whether or not the housing market was on the cusp of a significant slide. With sales down and inventories up, the picture painted is not entirely bleak as credit unions have a distinct opportunity to address the market through refinancing products.

“The market for new purchase mortgages will be declining,” forecast Dwight Johnston, vice president, economic and market research at WesCorp. “There will be a continued strong demand for refinancing. It’s a real opportunity for credit unions to be there and to be there with some reasonable and affordable products. I think if they promote being there for refinancing it will prove to be beneficial to both the credit unions and their members.”

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