With rates rising, refinances declining, and fewer homes on the market for sale, it is no surprise that mortgage lending is tight. Although the outlook for the 2018 purchase mortgage market seems good, overall business will be off from prior years with the same lenders all vying for their piece of a smaller pie. To compensate, lenders are loosening their…
With things a little slow in the mortgage world, the conversation again comes around to refinances. Rates have increased slightly and according to those “in the know,” they should continue to rise. With the rise in mortgage rates, smart money says refinances will decline (again). But, we have heard that before and refi’s seem to be hanging around. Maybe this…
Every day we hear or read about another security breach with volumes of consumer’s private information being acquired by some unscrupulous people. Most recently it was Equifax, a major repository of consumer credit and personal data. Who might be next? Now, all the pundits and politicians saying something needs to be done to protect the consumer. More good intentions… Senator…
We may soon see some new innovations when it comes to the standard for all mortgages, the traditional 30-year fixed rate loan; a mortgage loan product that was developed back during the Great Depression. Hey, what was so ‘Great’ about it? This loan was meant to spread out the cost of someone buying a home so they didn’t need so…
After the elections, all we heard was that the Fed would most likely raise rates 2 or 3 times in 2017, maybe more. The smart money was that the 10-year treasury would yield about 3% by now. Mortgage rates were going to go up! Not quite, in fact, the 10 year is still below 2.5% and rates ain’t so high.…
It’s no secret that the mortgage industry has been a little slow to the table when it comes to the use of technology in handling loan originations. Although the need was recognized, when the housing market was good, the timing was all wrong. Why spend time and money searching for, developing, and implementing new technologies when everyone was making so…
