In a recent article published in the Scotsman Guide, I predicted that last year would be the biggest year for mortgage consolidations since 1994. The prediction was correct but, for different reasons. While I expected a significant increase in the range of interest rates, the loss to the mortgage industry was caused by somewhat higher interest rates resulting in squeezed…
Tag: Housing Market
Some Good News on Housing? Maybe…
Everyone is always looking for some positive signs when it comes to business and the economy; mortgage lenders are no different. So, let’s consider the recent results of the Fannie Home Purchase Sentiment survey as a glass half full. According to the Home Purchase Sentiment Index (HPSI), the net share of consumers who think that “now is a good time…
Millennials Coming of Age in Housing
Another year, another year older for the Millennial generation. They are now in their prime home-buying years and finally coming to market. According to recent activity, 45% of the purchase loans were made to Millennials versus 43% in December. Conversely, loans made to all other generations declined during the same period from 57% to 55. Millennials buying homes is a…
The Tax Lien Removal Cometh
The dreaded tax filing deadline is fast approaching and this year it also serves as the date that the 3 major repositories will drop the reporting of outstanding tax liens from their credit reporting. As of April 16th, outstanding tax liens against consumers will no longer appear on a credit report pulled by a lender to make a mortgage loan,…
Are You Prepared to Tap Into Increasing Home Equity?
In case you hadn’t noticed, mortgage lending volume is off about 20% from a year ago, with refinances down somewhere around 35%. To add insult to injury, profit margins for traditional mortgage lenders reported for the fourth quarter of 2017 are less than half of that in Q4 2016; $237 versus $535. We all knew this was coming. But, did…
Hold On Folks – We’re In For A Bumpy Ride
As we know by now, a strong purchase market for housing is forecasted for the next few years. After such a long period of refinances, this presents some real challenges for Realtors, lenders, and consumers. The recent onslaught of refi’s has removed many homes from the market. This results in a rise in home prices leaving fewer affordable homes for…