General World News

Mortgage industry execs, it’s critical to know your KPIs

As the first quarter unfolded, macroeconomic risks created strong headwinds for mortgage companies. The greatest concern is quickly rising mortgage rates, resulting in overall margin compression and essentially a nonexistent market for refinances.

Fannie Mae forecasted in early March that mortgage rates would approximate between 3.7% and 3.9% this year, but by April 7, the national average for a 30-year mortgage had already reached 4.72%.

The current volatility, combined with the likelihood of additional rate hikes on the horizon, has caused originators to focus on the purchase market as well as non-agency loan products like non-QM. Adaptability will be details ⇒

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