2021 was a rough year for home buyers. High prices and low inventory made it difficult for many prospective buyers, including first-timers, to find the home of their dreams. However, 2022 could see the market level out and “normalize,” and in turn, make it much easier for aspiring homeowners. The Mortgage Reports talked to some […]
Mortgage Lending Trends For 2022
Mortgage lending remained strong for credit unions throughout 2021 despite the current challenges of supply and pricing in the housing market. At the same time, the way business is done is continuing to evolve and become more digitized, and it will continue to do so in 2022. Here are couple of mortgage trends that, according […]
Credit Unions See Q2 Mortgage Growth And Setbacks
The second quarter of 2021 saw credit unions gain more footing in the mortgage market, but overall growth remains minimal. According to the most recent CUNA Mutual Credit Union Trends Report, fixed-rate first mortgage loan balances grew 1.8% in June, faster than 1.3% reported in June 2020. Additionally, credit unions, as of June of this […]
Credit Union Mortgage Shares Show Promise And Concern
So far this year, the housing market has been strong despite limited inventory and rising prices. However, credit unions may not be seeing as much of that success as they would like. The latest NCUA and MBA data, as reported by Credit Union Times, showed that in Q1, credit unions’ share of first mortgages totaled $74.5 […]
Mortgages Drove Credit Union Loan Originations in Q1
The numbers for Q1 2021 have come in, and overall, credit unions saw strong growth in their loan portfolios! Credit Union Times reported in May that first-mortgage originations were the driving force for the loan growth this past quarter with a grand total of $75 billion, up 49% from Q1 2020. While these numbers are promising, the […]
First Time Homebuyers: Optimistic, But Struggling
As we near the end of spring, more Americans are becoming enthusiastic about buying a new home. First time homebuyers still have a few difficult hurdles to jump over in order to reach their goal of purchasing their dream home. A survey conducted earlier this year by NerdWallet found that 38% of respondents did not […]
Homeownership and Savings Struggles, But There’s New Hope
As we’ve passed the one-year mark into this global pandemic, we are now beginning to see the full scope of the damage it has done financially. According to a survey conducted by Real Estate Witch, 43% of respondents currently don’t have any emergency savings. As for those who do still have some savings stashed away, a […]
Home Buying in 2021
The official start of spring is right around the corner, and with warmer temperatures comes the ideal time of year to start shopping for a new home! However, the coronavirus pandemic that began one year ago is still going on, and that’s going to have a significant impact on how this year’s home buying season […]