Sales Jobs; Lending Shell Wanted; Non-QM, VA IRRRL Products; Investor s Agency Changes Dec 14 2020, 9:43AM
With the snow expected in the Northeast this week, countless households washed loads of pajamas yesterday so that they could have clean work clothes this week. Y’all think 2020 is bad? Just wait until it turns 21 and starts drinking. Yet 2020 has been good for rates. The Fed has tamped down Treasury yields since the start of the pandemic in March, though those yields are quite the double-edged sword for the central bank. Higher Treasury yields/sinking bond and MBS prices can signal greater confidence in the economic recovery and are likely to be accompanied by rising inflation expectations, which the Fed hopes to see. But yields that climb too much also raise long-term borrowing costs, something the economy certainly does not need with the pandemic surging and millions still out of work. Purchase applications have grown in 2020, however. By the wa
MLO, Ops Jobs; Broker, Retention Products; Borrower Satisfaction; Primer on How News Impacts Rates Dec 10 2020, 8:00AM
“My ability to remember song lyrics from the 80s far exceeds my ability to remember why I walked into the kitchen.” The Baby Boomers are certainly riding the appreciation wave in housing across the nation. (Speaking of waves, did you know that Hawai’i is last among the states in boat registrations?) And given the rising values of a house, is anyone surprised that the fears of forbearance causing a cratering of the United States real estate market were entirely overblown? Owners will do whatever they can not to give up on the appreciation, and appraised values continue to edge higher. Appraisers love easy to appraise, “cookie cutter” houses and buildings, but these aren’t those. 70+ million people aged 24-39, aka Millennials, sure want to own homes or at least have a place to live. And developers are converting more and more h