The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

Politics & Money

Expect purchase application data to be negative in 2H 2021

COVID conditions skewed 2020 data

Logan Mohtashami
Logan Mohtashami HousingWire Lead Analyst

When economic data that is typically sticky has a waterfall dive followed by a quick parabolic recovery, forecasting a trend can be tricky. The MBA purchase application data changed during our year of COVID-19.

In a typical, non-pandemic year, the bulk of the volume of purchase applications occurs in the heat months for housing, those being the second week of January to the first week of May. By the end of May, purchase application volumes start to fall. Every year, we get some rookies that think the post-May decrease means that housing is crashing. Don’t be one of those.

When we keep this data line’s seasonality in mind, we can get a pretty good picture of the housing market’s health. When the housing market isn’t doing great, purchase application data shows negative year-over-year data for the entire year. The last time we had a negative year-over-year decline in purchase applications was in 2014. That year purchase applications were the lowest ever when adjusted to the population.

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