What Do July’s Strong Employment Numbers Mean for Interest Rates and the Economy?

What Do July’s Strong Employment Numbers Mean for Interest Rates and the Economy?

Will the 528,000 new jobs added (nearly double the estimate) give prospective homebuyers confidence to stop canceling deals or step back into the market? Despite the Fed enacting its second consecutive 0.75 percentage point interest rate increase in an effort to tamp down runaway inflation without creating a recession, employers still needed workers! Incredibly, these …

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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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What does the great housing market cooldown mean for buyers and sellers?

What does the great housing market cooldown mean for buyers and sellers?

Experts weigh in and we’ve curated their input While mortgage rates fluctuate in the 5% range (nearly twice what they were one year ago) speculation abounds as to how this will impact the housing market. Will buyers back off? Are sellers in for a disappointing summer? Everyone appears to have an opinion, but most seem …

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OpenClose’s Mitch Swanson Honored by PROGRESS in Lending with Next Gen Leader Award

WEST PALM BEACH, Fla., – July 8, 2022 – OpenClose®, the leading fintech provider of residential mortgage software solutions for banks, credit unions and mortgage lenders, announced that its product delivery manager, Mitch Swanson, has been recognized as a Next Gen Leader within the industry by PROGRESS in Lending Association. The Next Gen Leader award …

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Home Equity Loans Shake Up the Mortgage Industry

Are Home Equity Loans About to Shake Up the Mortgage Industry?

Interest rates are rapidly changing while homeowners are raking in record amounts of equity. For some, all signs point to HELOCs. Mortgage rates are hovering around 6%, reaching a high not seen in years, while home equity levels continue their upward trajectory. For some mortgage market spectators, this could mean only one thing: Hello, home …

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Can Non-QMs Make a Dent in Lost Volume

As Refis and Traditional Mortgage Applications Plummet, Can Non-QMs Make a Dent in Lost Volume?

With the gig economy booming, these unconventional loans are gaining popularity With interest rates rising and mortgage applications falling to 22-year lows, mortgage lenders have seen refi volume all but dry up. The boom that made 2021 a banner year for many has officially ended, leaving lenders grasping for other avenues to make up for …

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