True, but don't forget we now have the .5% impact fee on refi's over $125K starting Dec 1. That slowed us down here slightly I feel for the ones not closing in November...and didn't even start to process knowing about it.
The good thing in FL is the purchases are off the charts still, so if refi's die down, I think the purchases will still be good enough to get us through and pick up the slack with those interest rates. The impact doesn't affect purchases. Retirees, snowbirds, the big city relocators that work from their homes in NYC can work from their homes here in FL for a whole lot less.
Time will tell, way too many scenarios pending to even take a guess. COVID turned out to be a money maker for our business when we thought the opposite, so no way to tell. |
