A&D Market Digest for Week of 9/18/23

Do you want to find out the latest market trends and rates, learn how to qualify clients who don’t meet Non-QM loan criteria, and explore technology for a better customer experience? Join us for the latest episode of A&D Digest! 

KEY HIGHLIGHTS  

• Current rate trends: rates have increased from 2% to 7.5%. 
• New opportunities: Fannie Mae rates are now in line with Non-QM rates 
• Technology improving client experience: Quick Pricer, LOS, marketing materials, calculator for short-term rent 
• Role of analytics in tailoring mortgage products 
• Underwriters are your assurance  
• Stable or slightly declining mortgage rates in the near future 

Don’t miss this opportunity to gain valuable insights to stay ahead of the competition. 

MORTGAGE NEWS

• NMN — Pending home sales unexpectedly rise for a second month. The National Association of Realtors’ index of contract signings to purchase previously owned homes edged up 0.9% to 77.6, the highest in three months, the group reported Wednesday.   
• NMP — Foreclosure Rates Edge Up In August 2023. New data from ATTOM says foreclosures are on the rise. The report indicates a total of 33,952 U.S. properties faced foreclosure filings. This figure marks a 7% increase from July 2023, though it’s 2% less than August 2022. 
• The MReport  —  1 in 3 Sellers Are Relocating for More Spacious Homes. While many U.S. homeowners refuse to sell their homes in fear of losing their low mortgage rates, nationwide return-to-work policies are motivating one in every 10 home sellers to relocate, according to a new Redfin survey.