Mortgage volume has been relatively slack over the last two years. As a result, lenders have tried to supplement volume in various ways - reviving old products, adding some new hybrids, expanding their marketing of reverse mortgages, putting new emphasis on home equity loans and subprime lending, and attempting to change their delivery channels.

Now the mortgage market is entering a different phase. Volume is expected to pick up substantially this year - assuming interest rates do not climb sharply - and 30-year fixed-rate loans seem to be dominating the market.

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