Lenders will likely originate $1.5 trillion in refinances in 2020

June 3, 2020
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The mortgage industry is poised to become the epicenter of the DFW and national economy, and lenders are staffing up for what could be an unprecedented wave of purchase and refinance loans.

The average U.S. rate for a 30-year fixed mortgage dropped last week to within one basis point of an all-time low, where it now sits at 3.24%, according to Freddie Mac. The low rates on purchase loans are spurring housing demand as states ease lockdowns, said Sam Khater, Freddie Mac’s chief economist.

And the trend for mortgage rates is clearly downward still, according to major forecasters. Fannie Mae projected last week the average this quarter would be 3.2%, followed by 3.1% in the third quarter and 3% in the fourth quarter!

That probably will push refinancing volume to a 17-year high, according to the forecast. Lenders likely will originate $1.5 trillion in refis in 2020, a 51% jump from 2019, according to the forecast.

As one of the leading suppliers of mortgage industry talent in DFW, we can tell you the run on industry professionals began weeks ago and is accelerating into Q2. Now is the time to hire DFW’s most qualified talent through Imprimis Group, including:

  • Loan Originators, Counselors, & Closers
  • Funders and Draw Specialists
  • Underwriters with DE/LP/Chums
  • Call Center Support and Service Managers
  • Executive Professionals

The best qualified candidates won’t be available much longer, so take advantage of fortunate timing by calling Imprimis Group today at (972) 419-1700.