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With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. But it’s not all grim news. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.
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Mortgage rates this week saw the biggest one-week decline in a year and potential homebuyers waiting for rates to drop responded, said Josh Mettle, division president and co-creator of NEO Home Loans. “I think we were up right around 15% increase in the number of initial mortgage applications. That doesn’t take into consideration the number of buyers that had already applied and were sitting on the sidelines.
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Here we are again, facing a protracted geo-political battle that has repercussions around the globe. Nineteen months after the start of the Russia-Ukraine war , Israelis and Palestinians are in an escalating conflict that has been percolating for many decades. Prayers for the tens of thousands who have died, as well as the many refugees, disaster survivors and their families affected by the conflict in Israel and the Occupied Territories.
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