What is the cost?
Many companies and their originators are dealing with the challenges of less loan volume. With refinance business about 20% of the volume it was last year and purchase volume down in many markets as well, there is simply less loan units to take through the process, which leads to the reality than ma...
Asking for a friend!
The following questions are asked to provoke thought and drive you the reader, into thinking about what the reality is in your market and the correct answer or response to the question!
Asking for a friend:
                 “The government says we aren’t in a recession, and they don’t see one com...
Data shows solid interest!
The numbers continue to show that people, especially millennials, are interested in home ownership. Despite higher home prices and higher rates, loan applications are still strong for home purchase loans. While refinances are significantly off year over year due to higher rates, purchase application...
Information & Interpretation!
The FED FINALLY woke up and took a positive step toward dealing with inflation. Despite being less than what I would have liked to have done, 75bps and another likely 50 to 75 bps again in June should signal to the markets a serious approach to fiscal stability. The future remains to be seen, but th...
Opportunity Knocks
When opportunity knocks, answer the door!!! As the mortgage industry goes through another series of changes, you need to know how to take advantage of these changes.Â
We have talked about the purchase to refinance balance for all originators. Never has that balance swung so far to the refinance sid...
When everyone is wrong!
It is very hard for markets to find their way when those in power and in control are just so WRONG all the time. When the former FED Chair and now Treasury Secretary Janet Yellen, someone who should know things about economic issues, absolutely gets inflation so incredibly wrong that she states that...
Planning for Summer
As May ends, people begin their thoughts of summer. Mortgage professionals are no different. Anyone who knows me and works with me understands I stress the value of vacations and time away from work unplugged. I push for a minimum of two full weeks unplugged from the work arena and a series of at le...
We need to ask WHY?
Are they facts, or are they excuses? Are the reasons people are not getting what they want, or even afraid to TRY and get what they want, based on the facts, or are they fiction?
I just wanted to pose three questions today and have you just think about them and maybe do a little of your own investi...
It's NOT that high!
People are really complaining about mortgage rates. I understand that nobody likes when things get more expensive, but the truth of the matter is, rates are NOT that high! Yes, they are higher than they have been recently, and yes, you do have to go back to 2009 to find average mortgage rates in the...
News and nonsense!
Happy Cinco de Mayo!
The Fed raised interest rates yesterday by 50 basis points and signaled a reduction in the Fed balance sheet. While it was a good start in heading where they need to go, it’s about a year late! As expected, the bond market is happy with the announcement and while there may be s...
