The mortgage industry has faced many ups and downs in recent years. Since the start of the pandemic, home prices have surged by 43%.[i] This sudden spike in home values paved the way for a flood of refinancing requests, but this boom in business was only temporary. As interest rates increase to tame record inflation, the current mortgage market is … Read More
Many mortgage lenders assume that the key to success is attracting an abundance of new applicants. While this aim is important, achieving it in the current mortgage market is increasingly difficult due to low volumes and record-high interest rates.[i] So, what can mortgage lenders do in the meantime to supercharge their revenues? During this downtime, many lenders can benefit from … Read More
Borrower retention has been a widespread issue for mortgage lenders for many years. The average borrower retention rate in the mortgage industry is just 18%[i]—the lowest rate of any major industry in the United States. In the current mortgage market, borrower retention is more critical than ever before. That’s because mortgage applications are waning, purchase rates are low, and interest … Read More
We’re currently in the midst of National Hispanic Heritage Month, which takes place from September 15th to October 15th.[i] During these 30 days, many Latin American countries celebrate their independence. In light of this month-long celebration, we want to highlight the growing population of Hispanic homebuyers. As of 2020, the United States was home to over 62 million Latinos.[ii] Between … Read More
The mortgage market has experienced many changes in recent years. In 2020 and 2021, the demand for refinances surged, thanks to the historically low interest rates.[i] During this time, many mortgage lenders enjoyed abundant revenues. Today, the mortgage landscape is quite different. With a looming recession and rapidly rising interest rates,[ii] refinance requests have waned. What’s more, a low housing … Read More
As purchases drive the current mortgage market, trigger leads are becoming more prevalent. Trigger leads are a product offered by the credit bureaus. Some people argue that trigger leads benefit borrowers and lenders alike. Others view these services as spammy, annoying, and confusing for consumers, due to their unsolicited nature. Below, we’ll discuss what trigger leads are and how they … Read More
