A ‘Shakeout' Among Mortgage Lenders Is Coming, According to CEO of Bank That Left the Business

대한민국 뉴스 뉴스

A ‘Shakeout' Among Mortgage Lenders Is Coming, According to CEO of Bank That Left the Business
대한민국 최근 뉴스,대한민국 헤드 라인

Surging interest rates and home prices that have yet to decline have put housing out of reach for many Americans and shut the refinance pipeline for lenders.

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

"We were a first mover here and others are now doing the same math and seeing what's happening with mortgage volumes," Wennes said in a recent interview."For many, especially the smaller institutions, the vast majority of mortgage volume is refinance activity, which is drying up and will likely drive a shakeout."

The mortgage business boomed during the first two years of the pandemic, driven by rock-bottom financing costs and a preference for suburban houses with home offices. The industry posted a recordin loan volumes last year, including $2.7 trillion in refinance activity, according to mortgage data and analytics provider Black Knight.

But surging interest rates and home prices that have yet to decline have put housing out of reach for many Americans and shut the refinance pipeline for lenders. Rate-based refinances

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

nbcchicago /  🏆 545. in KR
 

대한민국 최근 뉴스, 대한민국 헤드 라인



Render Time: 2025-01-17 06:31:42