"Declining home sales are in the news this morning, as the median sales price of existing homes fell more than 13% over the past year. In addition, New Home Sales came in below expectations--falling to their lowest reading in 27 years.
During times like this, it's important to remember that while inventories are high and need to come down for housing prices to stabilize, the combination of abundant inventory and low interest rates does provide a great opportunity for buyers to purchase homes below market prices and at great monthly payment rates.
Currently, Mortgage Bonds are clawing their way back, after opening lower this morning.
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About The Utah Finance Guru!
- Cindee D. Stone
- Loan Officer Interview Q and A: How long have you been in the mortgage business? I have been in the mortgage industry for over 18 years. I have been very blessed and fortunate to have worked with so many wonderful people! How has the mortgage industry changed since you started, and what would you expect in the future? The mortgage industry and changed so much over the last few years. And, continues to change on a daily basis. It is very important to have a loan officer that has the experience to guide you through the process with success. What can borrowers do to insure a smooth mortgage underwriting process? The most common issue during the loan process is getting all of the documents from the borrowers. It is so different now and so much more is needed. This allows us to see the entire picture and make sure it all goes as smooth as possible. What provides you with the most satisfaction in your job as a Loan Officer? Even though the mortgage industry is harder these days, it will never take away the satisfaction and happiness with assisting someone getting into the home of their dreams! Or, helping a homeowner refinance and save money.
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