Since the end of 2020, the mortgage industry has seen the US economy take many turns. In a recent survey, the majority of lenders had a pessimistic outlook on the economy.
The surveyed lenders were asked to rate their opinion on the state of the US economy. An overwhelming 73% of those surveyed stated that the US economy was on the wrong track while only 27% stated that it was headed in the right direction. Most respondents blamed a lack of consumer confidence and increasing levels of unemployment as the main source of their pessimism.
Most Important Elements:
• Mortage industry has seen US economy take many recent turns
• 73% of surveyed lenders had a pessimistic outlook on economy
• Lack of consumer confidence and increasing unemployment were the issues blamed
• Only 27% of respondents stated the economy was headed in the right direction
You can read this full article at: https://www.housingwire.com/articles/cost-cutting-remains-the-top-priority-for-lenders-fannie-mae/(subscription required)
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