According to mortgage industry professionals interviewed by HousingWire, August is typically a slower period for business within the sector. However, this year appears to be following the same pattern, with loan officers (LOs) noting a decrease in activity during this time. Despite the current lull, experts predict a potential increase in business volume in the near future as mortgage rates have dropped to the mid-6% range and are anticipated to continue decreasing.
Key points:
– August is traditionally a slower period for the mortgage industry
– Loan officers have reported decreased levels of activity during this time
– Mortgage rates have fallen to the mid-6% range
– Industry experts foresee a rise in business volume in the coming months
– Expectations of further declines in mortgage rates are fueling optimism among originators
You can read this full article at: https://www.housingwire.com/articles/mortgage-rates-still-concern-but-los-gear-up-for-busy-days-ahead/(subscription required)
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