Do home sales appear more stable than they really are? Home sale concessions are a powerful tool in the arsenal of the home seller. This tactic is frequently used during a “buyers’ market.” More recently, many home sale transactions have started to include “goodies” offered by the seller to sweeten the deal for the homebuyer. …
Are Home Seller Concessions Artificially Boosting Home Prices? Read More »
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 …
The Fed’s Latest Rate Hike Set to Impact the Mortgage Market Read More »
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 …
With Home Prices Falling, Will Bidding Wars Become a Thing of the Past? Read More »
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 …
Borrowers Can Tap Substantial Home Equity With a HELOC or a HEL U.S. home equity has reached a new record high. Nationwide, the total home equity is $28 trillion, with an astounding $6 trillion added in the past two years. OpenClose is committed to serving lenders that are seeking qualified prospects for a home equity …
Attracting Home Equity Line of Credit and Home Equity Loan Customers Read More »
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 …
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 …
Credit Unions Are Selecting Mortgage Solutions for the Best Technology and Relationships Read More »
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 …
Top Six Reasons Why More Lenders Are Choosing OpenClose’s Mortgage Tech Read More »
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, …
With Home Equity Levels Soaring, Will More Older Homeowners Consider a Reverse Mortgage? Read More »
Some home sellers understand the new reality and are cutting prices, while others are stubbornly allowing their properties to linger on the market. After two banner years for home sales during the heights of the pandemic, when housing demand went through the roof and home prices rose by double digits on a percentage bases, but …
What’s Next for Homebuyers and Sellers as Mortgage Rates Rise? Read More »