Ever since interest rates spiked higher in May 2013, there has been a great deal of conjecture about the market for home lending. What had been healthy demand for refinance loans fell markedly when rates increased. After several years of historically low interest rates, a downturn in refinancing had to be expected. Did the turn in rates, however, signal the end for home lending?DOWNLOAD PDF
When evaluating the above questions, it’s important to ask if your offers are both timely and targeting the right individuals. Ultimately financial institutions need to leverage technology to meet consumer expectations as well as their own profitability goals. Those who rely on traditional methods may be left behind by the competition.
Rachel Stephens explains why the timing couldn’t be better to build core deposits, ensuring a stable and sufficient source of funds for lending activity.
Back in the heyday of home equity lines of credit (HELOC), between 2000-2007, it seemed every homeowner needed a HELOC for a rainy day fund. It could be used for...