Posted To: Pipeline Press

What word becomes shorter when you add two letters to it? Short. (There’s the cutting-edge wit this commentary is known for!) Time can play tricks on us. Did you know that the fabled Studio 54 in Manhattan was only open from 1977 to 1980? Did you know that this is the end of the first quarter (already!)? Freddie Mac 30-year fixed mortgage rates started 2020 at 3.72%, just 40 basis points above its all-time low, and plunged to 2.65% by the start of 2021. Now they’re back up to 3.125-3.25. Freddie’s volume in February was over 75 percent refi, so we’ll see where that goes during 2021. Certainly purchase-focused lenders are thumping their chests, and hiring managers, regardless of company, are taking a hard look at the book of business of any MLO under consideration. Might…(read more)

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Source: Mortgage News Daily