Lending and Originations

With extensive product strategy and technology leadership experience in the real estate industry, Fortier will direct and continue to enhance the Paragon Connect system, which provides real estate agents on-the-go access to advanced agent-client collaborative features and business management tools.

“Tons of homeowners scored an incredible deal during the pandemic: a 3% mortgage rate for the remainder of their 30-year loan … this means buyers who are in the market now are duking it out for a very small pool of homes, preventing home values from plunging,” said Redfin Economics Research Lead Chen Zhao.

Continued housing demand and a lack of existing inventory are just two of the forces that make construction-to-permanent loans an ideal opportunity to make up for lost volume in today’s marketplace.

According to Black Knight's latest Mortgage Monitor report, purchase locks fell 7.4% from June, while mortgage rates topped 7% in July for the first time since last fall. Click through to see the latest findings.

“In most of the country, expensive properties that are in good condition and priced fairly are attracting buyers and in some cases bidding wars, mostly because for-sale signs are few and far between right now,” said Redfin Economics Research Lead Chen Zhao.

The Q2 2023 TransUnion Credit Industry Insights Report reveals the latest credit trends as lenders have begun to tighten underwriting. Some 50% of Gen Zers surveyed say they plan to apply for new credit or refinance existing credit within the next year.

"Just like the weather, large local market variations exist despite the minor change in the national home price," NAR Chief Economist Lawrence Yun said.

Freddie Mac Chief Economist Sam Khater points out that "upward pressure on rates is the product of a resilient economy with low unemployment and strong wage growth, which historically has kept purchase demand solid.”

LendingTree found that shopping around for a mortgage could help borrowers across the nation’s largest metros save an average of $84,301 over the lifetime of their loans.

With mortgage rates surpassing the 7% mark, the MBA reports yet another dip in weekly purchase and refi apps as homebuyers struggle in the face of a depleted housing supply and elevated mortgage rates.