"With such low interest rates, the mortgage industry is charging more points and fees to boost profits as seen in the Mortgage Bankers Association report June 12, which shows quarterly production revenues were up roughly 10%.
Mortgage application lines are long. The process can be particularly condescending and humiliating (proving your job and/or your company income is ongoing amid the COVID-19 backdrop). If your loan is getting funded in 30 days or less, consider yourself lucky. In some cases, it’s taking three or four months, according to some of my industry colleagues."
I am crossing my fingers, in the process now buying a home, and closing by EOM.
I hope we continue to remain steady-busy...I personally do not see them giving away loans less than 2%. See what happens, if it does, even more refi's for us!! |
