A survey of 200 mortgage lending professionals showed that nearly two in three mortgage lending professionals expect mortgage purchase production to increase, according to Lenders One Mortgage Barometer.
The overall anticipated increase for 2016 is set at 11%. In addition, 87% of mortgage professionals believe the mortgage purchase market will be somewhat to extremely active.
The survey was conducted online to a random 200 mortgage lenders, and independent research was also conducted by Market Intel Group in January, where it showed that 79% of millennials, are now reaching the peak age for home buying
Lenders One is a national alliance of independent mortgage bankers, correspondent lenders.
On today’s new analysis released by CoreLogic, leading global property information, analytics and data services provider, reported that 1.2 million borrowers regained equity in 2014. Nationwide, borrower equity increased year over year by $656 billion in Q4 2014. Borrowers with near negative equity are considered at risk of moving into negative equity if home prices fall. In contrast, if home prices rose by as little as 5 percent, an additional 1 million homeowners now in negative equity would regain equity. The calculations are not based on sampling, but rather on the full data set to avoid potential adverse selection due to sampling, and only data for mortgages residential properties that have a current estimated value is included.
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