Tag Archives: mortgage

The majority of respondents to a recent survey by the National Association of Realtors said they believe this is a good time to buy or sell a home, that the economy is improving, and that housing prices will continue to escalate.

Outside of pockets of extreme growth such as Silicon Valley, today’s consumers seem to be holding onto their money rather than putting it into a home. In response, the mortgage industry must evolve to reach the first-time homebuyer, and understanding millennials is the key.

Millennials and first-time home buyers are expected to continue buying homes regardless of a mortgage rate increase, according to real estate and title professionals.

Mortgage credit is up month-over-month thanks to more investors getting into the market and streamlined documentation loans by FHA, one report shows.

A recent borrower insight survey reveals that referrals remain the predominant method consumers use to select a mortgage lender and the different preferences in lenders among millennials, Gen Xers, and Baby Boomers.

At the beginning of March MSI purchased Tulsa Oklahoma-based Williams, Williams & McKissick Co. This acquisition allows MSI to now include the services of auction sales for a variety of real estate options which expands its services nationwide, from Puerto Rico, the Virgin Islands, and Guam.

By the end of 2016, six of the nation’s top 10 lenders were non-banks, but that trend may not continue in 2017.

Millennials tend to skip the traditional starter home by choosing larger properties with higher prices. They pay a median price of $217,000 for a home that is about 1,800 square feet, similar in size to what older generations buy.

Avoid the hard sell when a customer is choosing a mortgage product and focus on assisting the customer in making the best decision to gain customer loyalty.

The African American community was the hardest hit during the housing crisis. Black homeownership grew by six percent when the Fair Housing Act passed, but that growth was stunted between 2000 and 2015. Now, Wells Fargo is working to spur homeownership within this demographic.