Posted To: Pipeline Press

If you had 20 million close friends, and each one owed $500k on their house, the total would be $10 trillion of mortgage debt. Coincidentally, that is how much mortgage debt is out there in the United States. (Doesn’t every MLO wish all that debt was at 4 percent!) I love headlines like, “National Association of Realtors Says Home Prices Are Rising Much Too Fast .” NAR has a powerful lobby, but it doesn’t determine house prices. And who is NAR to say something, entirely beyond their control, is too fast or too slow? The pandemic has really impacted everything, huh? Heck, had I known in March that it would be the last time I’d be in a restaurant, I would have ordered dessert! COVID has certainly jacked up the number of emails sent and the number of lunchroom and…(read more)

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Source: Mortgage News Daily