Posted by Ronnie_WA on 4/10/13 7:27pm
Msg #465273

Depressing news from LO's today

I visited with my 2 top producing LO's today, each with a different national bank. They normally average 25-35 refi apps per month. One had only 3 apps last month, the other 5. One has no refi apps so far this month and the other has 1. Each feels the refi market has been exhausted and they are targeting their marketing efforts toward the local real estate agents now. I was hoping to hear that we are in a temporary lull, but that's not their opinion. I'm in Washington State. I don't know if this would have any application in other states.

Reply by ToniK on 4/10/13 8:05pm
Msg #465274

I cant say but in my area purchases are HOT right now. New homes are going faster than I can count. Im even considering buying one of these new homes.

Reply by Ronnie_WA on 4/10/13 8:18pm
Msg #465275

Happy for you! I'm seeing some Fannie Mae repo's moving, and some out of state investment purchases, but not much else. It may be that the local escrow agents are retaining the signings in-house and I just don't see them.

Reply by Karen Maxwell-Cervantes on 4/10/13 8:47pm
Msg #465277

Re: Billionaires dumping bank stock interesting read


http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=110D8-1&utm_source=taboola

Fannie Mae just had a profit or 17.2 Billion dollars for last year, higher mip must of helped.

Reply by Jessc098 on 4/10/13 11:00pm
Msg #465285

Ronnie, I'm in WA too. I had my busiest day in a long time today, but the last couple of months have been a little slow.

On the other hand, I am seeing both sides of this equation now, as I recently got licensed as a real estate broker--in many market centers in the Puget Sound area we've got just days of inventory. Days, not weeks. Prices are going up fast too. (Great news for current homeowners, bummer if you're looking to buy).