Vince Furey

The Fed’s Latest Rate Hike Set to Impact the Mortgage Market

The Fed’s Latest Rate Hike Set to Impact the Mortgage Market

Here’s how experts say the Fed’s historic move will affect the housing market The Federal Reserve raised interest rates 0.75 percentage points yet again, marking the fourth consecutive hike and bringing interest rates to their highest point since January 2008. In a press conference shortly after the announcement, Fed Chairman Jerome Powell acknowledged that the …

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With Home Prices Falling, Will Bidding Wars Become a Thing of the Past?

With Home Prices Falling, Will Bidding Wars Become a Thing of the Past?

Or does a lack of inventory mean competition will remain strong? Less than six months ago, bidding wars were a widespread inevitability plaguing prospective homebuyers in an overheated housing market. But now, with home prices declining around the country and mortgage rates recently climbing to their highest level in 21 years, will the days when …

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Banks Know the Right Mortgage Technology Is Critical to Their Businesses, That’s Why They’re Choosing OpenClose

Banks Know the Right Mortgage Technology Is Critical to Their Businesses, That’s Why They’re Choosing OpenClose

In a transitioning and ultra-competitive market, it’s more crucial than ever that banks get the right tech in place now When it comes to mortgage lending, banks understand that technology plays a crucial role in their ability to close more loans and keep their borrowers happy. With so many options available to prospective borrowers these …

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Adjustable-Rate Mortgage Applications Reach Highest Level in 15 Years, But Where Are They Heading?

Adjustable-Rate Mortgage Applications Reach Highest Level in 15 Years, But Where Are They Heading?

The borrower must decide if the lower introductory rate is worth the risk of higher payments later. The recent announcement from the Federal Reserve that interest rates will be raised 75 basis points (and the idea that another hike is coming at their next meeting) has added to borrowers’ interest in adjustable-rate mortgages (ARMs). So …

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Credit Unions Are Selecting Mortgage Solutions for the Best Technology and Relationships

Credit Unions Are Selecting Mortgage Solutions for the Best Technology and Relationships

Credit Unions relate to OpenClose because we treat you like you treat your members Why are more and more credit unions turning to OpenClose’s Mortgage Technology solutions? From our internal surveys, you tell us that it’s because of our shared values and commitment to the people we do business with. Credit unions embody that value …

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Top Six Reasons Why More Lenders Are Choosing OpenClose’s Mortgage Tech

How the right LOS and POS systems can better your bank or credit union. Author: Vince Furey Any successful mortgage lender knows that enhancing operations comes down to two things: configurable technology and the level of expertise their experts can attain using the system. Putting cutting-edge software in place that addresses the specific steps of …

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With Home Equity Levels Soaring, Will More Older Homeowners Consider a Reverse Mortgage?

With Home Equity Levels Soaring, Will More Older Homeowners Consider a Reverse Mortgage?

Some say this misunderstood financial tool can be a smart solution The housing market may be struggling, but one thing has remained steadfast: Home equity levels have moved steadily upward until recently. This summer, aggregate home equity in the U.S. reached the highest level on record, jumping 20% in the first quarter to $27.8 trillion, …

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International Homebuyers: Is Their Impact on the U.S. Housing Market More Important Than We Think?

International Homebuyers: Is Their Impact on the U.S. Housing Market More Important Than We Think?

With pandemic travel restrictions currently being lifted, will more foreign residential real estate sales be the catalyst the U.S. housing market suddenly needs or will the exchange rate quell that? Recently, the National Association of Realtors (NAR) issued their annual report on international homebuyers. This is what we learned about that report, the impact of …

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