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A recent Institute for Supply Management survey shows that, by margins of more than four-to-one, companies that were increasing their capital spending plans because of an “improved business outlook” rather than “prospects for regulatory reform.”
At the same time, businesses and consumers are still awaiting evidence that President Donald Trump and Congress can quickly enact and implement legislation covering tax cuts, infrastructure investment, and fewer regulations. What does it mean for mortgage lending and the housing market? Although rates may rise, the rise should not be dramatic. That affords opportunities to continue to exist for some refinancing of existing debts by current homeowners debts. It will also allow home purchasers to find affordable financing options.
What does it mean for mortgage lending and the housing market? Although rates may rise, the rise should not be dramatic. That affords opportunities to continue to exist for some refinancing of existing debts by current homeowners debts. It will also allow home purchasers to find affordable financing options.
Regardless of whether you believe the Russians interfered with the election, healthcare reform or tax reform will get passed by Congress soon, business remains optimistic. Now, that’s good for hiring and investments. That, in turn, is good for income and jobs, which bodes well for housing.
All lenders need to have the products, services, and talent to provide the needed financing to homeowner’s and home buyers when they need it.
- Do you offer the right mix of products?
- Is your staff trained to service the needs of the different types of applicants?
- Are you prepared for HMDA?
Things are moving fast. As Scooter said, “…don’t get caught watching the paint dry…” Get in the game, there’s plenty of opportunities for loans. It’s not all about rates…
Editor’s Note: Assistant Coach “Scooter” Flatch, in the movie Hoosiers, was played by actor Dennis Hopper.
