(Warning: cuteness ahead.) How does it feel to be a loan officer dealing with multiple borrowers on one loan? The study of how people borrow money, and where they’re moving, is of great interest to LOs and lenders, as well as vendors and real estate agents. (Warning: numbers ahead.) Though many believed that the spike in WFH (work from home) workers associated with the COVID-19 pandemic would lead to greater geographic mobility, the number of domestic movers in the United States actually declined from 2019 to 2021. The percentage of people in the United States who moved in the previous year declined from about 14 percent to roughly 13 percent, according to the 2019 and 2021 American Community Survey estimates. In 2019, 7.6 percent of the U.S. population moved to a new residence in the same county; by 2021, that percentage had declined to 6.7 percent. The percentage of those who reported that they had moved the previous year to a new residence in a different county within the sam
“Thirty years ago, we had Bob Hope, Johnny Cash, and Steve Jobs. Today we have no hope, no cash, and no jobs. We are all praying nothing happens to Kevin Bacon.” “Bringing home the bacon” is something that has become strained for tens of thousands in our biz when they lose their job. I’ve been deluged with Wells Fargo folks wanting to change their email to their home email, and while this has always given me insight (in advance, often) into companies closing, to be FTC compliant I don’t actually add emails: sign up personal emails here under the “subscribe” tab. Also, anyone displaced can post their resumes for free here where employers can view them for a nominal $75 fee for several months. Because, hey, there should still be a couple trillion in mortgages originated this year. Hear me out. Are you in debt? Join the crowd. U.S. households’ debt is now $16.5 trillion. Sensationalist headlines aside, it is up about 7 percent
To the surprise of many, the Federal Open Market Committee (FOMC) did exactly what wasn’t expected on Wednesday, raising the federal funds rate by 75 basis points, which could stoke a recession, and possibly stagflation, while also giving off ominous effects for the mortgage industry and homebuyers.
By DOUG PAGE, Staff Writer, National Mortgage Professional With the yield on the 10-year Treasury Note hovering around 3%, two industry economists predict the Fed’s attempts to push down inflation will make for a hard slog with implications not only for the economy and a possible recession, but also for the housing market and, possibly, mortgage rates.