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American mortgage lenders are actually bracing for rockier times because consumers demand for home loans keeps going down and competition in the mortgage industry surges, according to Fannie Mae's latest quarterly poll, issued on Monday.
Some lenders are concerned over a squeeze on their profit margin, though the number of them has decreased since the fourth quarter of 2016. That’s what the survey with the 184 mortgage executives revealed.
Responding to a tougher climate, many lenders told that they intend to ease their lending standards in an attempt to attract more borrowers, as survey data disclosed.
In addition to this, the margin on the share of lenders who witnessed a dip in consumer demand for a loan to purchase a home for the last three months over the share of lenders who faced a leap in purchase loan demand edged down to approximately 30%, which is the lowest outcome for two years on a year-over-year basis.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
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