Progress in Lending Association Newsletter: Jan./Feb 2022 Issue

Leveraging Technology To Maximize Purchase Business

   Kathleen Mantych

Purchase originations are forecasted to reach new successive records in 2022 and 2023, while higher mortgage rates and fewer eligible homeowners will lead to further declines in refinance volume.  

According to Fratantoni, chief economist at the Mortgage Bankers Association states, MBA’s 2022 forecast assumes continued, strong economic growth amidst eventual easing of the supply chain constraints that have curbed some economic activity this year. [Read more…]

Progress in Lending Association Newsletter: Nov./Dec. 2021 Edition

Gearing up for Home Equity in 2022

As of midyear, American homeowners had amassed $23.6 trillion in equity, according to the Federal Reserve. That’s the estimated value of their homes minus how much they owe on their mortgages.

“It’s astounding,” said Mike Fratantoni, chief economist with the Mortgage Bankers Association. “That’s up $3 trillion, just in the last year.”

To bring those numbers down to earth a bit, that’s an average gain of more than $51,000 per homeowner household, according to CoreLogic. [Read more…]