January 2023: The Year Ahead

The Federal Reserve’s decision to increase the Federal Funds Rate from nearly 0% at the start of 2022 to 4.5% in December 2022 was made to combat inflation. However, this increase in the Fed Funds Rate resulted in long-term mortgage rates more than doubling,...

Mortgage Demand Increases 28% in Single Week

Mortgage rates are at their lowest point since September, and it’s bringing new demand into the market. According to the Mortgage Bankers Association’s seasonally adjusted index, mortgage application volume jumped nearly 28% last week compared to the...

Wells Fargo Continues Mortgage Retreat

It’s a changing of the guard in the mortgage market. Wells Fargo, once the dominant player in the market, continues retreating from the space. Wells Fargo wholesale stopped existing years ago, yesterday it was announced that they were shutting down correspondent...
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