Do you remember, the line from Top Gun when Maverick turned to Goose and says, “I feel the need, the need for speed!” It seems consumers may be feeling that way about the digital mortgage process. According to a recent J.D. Powers survey, 43% of all mortgage applications were done online. This was up from 28% a year ago; making…
I read an article in the newspaper the other day and yes, I still read the newspaper, which provided some tips to homebuyers for finding a good mortgage lender. Some were obvious. But, I thought I’d give you the information as this is what is being provided to consumers to help them choose their lender. Compare lenders, their products, and…
We heard some good news from Fannie! They are increasing their overall forecast for loan originations for 2017 and 2018 by nearly $250 billion. They are now projecting originations during the 4th quarter of 2017 to be about $427 billion. Any increase is good news for lenders. More good news came from the most current NAHB/Wells Fargo Housing Market Survey…
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…
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…
