True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

UWM has a plan to win a war of mortgage attrition

UWM's margins will fall all the way down to 75 to 110 bps. Mat Ishbia says it's the perfect environment to prove that his mortgage firm is truly elite.

Don’t sleep on non-QM products

Now is the perfect time for originators to consider expanding to non-QM products – to grow business, diversify their offerings and to ensure an opportunity to better serve their customers.

Mortgage

Are mortgage rates about to fall below 3%?

One prominent lender is already offering sub-3% rates

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Until about three months ago, it was basically unthinkable that interest rates would ever fall below their record low of 3.31%, which was set in November 2012. But then the coronavirus happened.

And as the virus was wreaking havoc on the world and its economy, interest rates not only broke that record; they’ve since settled comfortably below the previous all-time record level and stayed under 3.3% for three straight weeks.

But is it possible that interest rates are on the verge of falling to levels no one ever thought they’d see: under 3%?

The short answer: Absolutely.

In fact, one of the biggest lenders in the country is already offering interest rates as low as 2.5% to certain borrowers.

Last week, United Wholesale Mortgage made national news when it announced that it would be offering interest rates as low as 2.5%. Never before had a lender as big as UWM, the country’s biggest purchase mortgage lender and largest wholesale lender, offered rates that low.

Given that, the program made waves both inside and outside of the mortgage business.

Some mortgage brokers quickly and vociferously stated that UWM’s announcement was nothing more than empty words, suggesting that borrowers wouldn’t be able to get the low rates that UWM was touting.

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