Purchase transactions may be all the rage or perhaps the only rage for 2022. Jobs are added as soon as volume increases.”
“Large lenders have to be very disciplined about head count,” said Guy Cecala, CEO and publisher of Inside Mortgage Finance. Multiple mortgage industry executives have told me layoffs are coming soon. The Mortgage Bankers Association forecasts refinance mortgages to plummet 62% in 2022. Fannie and Freddie refinance acquisitions fell 27.4% from the second to the third quarter, according to Inside Mortgage Finance. Even with these still historically low mortgage rates, refinances are falling faster than a lead balloon. Fannie, Freddie give green light for remote appraisals – Orange County Registerįreddie Mac’s 30-year average fixed rate currently stands at 3.09%, up from a third-quarter average of 2.87%.
