Home Builders may be bucking the old adage to not change horses in the middle of a stream. With the ongoing uncertainty surrounding Millennials’ entry in home ownership, builders are once again courting good old Baby Boomers. The number of 55 and older homebuyers continues to increase. These are home buyers that have homeownership experience, stable income, assets and equity…
The MBA’s Mortgage Credit Availability Index (MCAI) increased for the fourth consecutive month in December. The MCIA is a barometer on the availability of mortgage credit using certain guidelines from institutional mortgage purchasers. With a base of 100, the higher the index value the more available the credit. A lower value indicates a tightening of mortgage credit standards. The MCAI…
Local boy makes good. According to Jerry Schiano, CEO of Plymouth Meeting, Pennsylvania’s, New Penn Financial, the weather may change a little when the Millennials start buying homes. The change? As he puts it, a humongous hurricane of air sweeping across the country caused by the simultaneous exhaling of tens of thousands of business people dependent upon the sale of…
With the New Year comes the rise in interest rates and the decline of the refinance. That means that lenders need to concentrate their attention on Realtors and Builders for new business in the New Year. Hopefully, originators remember how to do that. This brings us back to good old customer service. Customers, the Realtors, builders, and buyers, require attention…
The New Year is starting out strong with housing having regained just about all its value lost in the 2008 crash. According to Zillow’s data, the total value of the U.S. housing stock grew to $29.6 trillion, a record high. That’s a $1.6 trillion increase in home value appreciation. That’s good. During 2016, renters paid about $478 billion toward their…
It’s a new year, offering a new beginning with new opportunities. By all accounts, 2017 will bring in the new purchase market and ring out the old refinances. With that, things will definitely change. New business will now come from Realtors and Builders. They need to be serviced as much as the consumers buying the homes they offer. Things are…
