Posted To: Pipeline Press
I spent some time at the Texas Mortgage Banker's event earlier this week in Houston, and some of the discussion revolved around another refi boom . Namely, the recent Japanese rate cut makes it very difficult for our Fed to raise rates more. The U.S. economy is not doing well enough to support higher residential rates, and income is not outpacing house price appreciation - an issue in many markets. Our course if rates slide down lenders and originators reap the benefits of more refinancing although lenders are seeing less and less of a "pop" in refinancing activity each time rates go down. In fact refi volume levels are down over 30% from a year ago. Here's a case certain to turn some heads. Of course anyone can sue anyone else, but when the Consumer Finance Protection Bureau is involved it...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1S0dPex
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