Trends analytics suggest an uptick as consumers come to terms with the new norm in rates.
What soft housing market? Toward the end of arming lenders with data to help overcome market challenges, one analytics provider’s quarterly lending report suggests a “surge” in loan volume could be ahead for the spring homebuying season.
The newly released Maxwell Quarterly Mortgage Lending Report yields market perspective based on trends over more than $200 billion in loan volume from more than 250 small- to mid-sized lenders. Mortgage Professional America recently interviewed the company’s CFO Bob Groody and senior product manager Josiah Feuerbacher for further insights into what the analytics and insights from loans transacted within the Maxwell platform might suggest for the broader market.
“When we released the report, we were looking at early January data and we saw a bit of leveling off as it related to the last few months of data that we’ve seen in terms of overall loan volume,” Feuerbacher told MPA. “That leveling off was a good sign, knowing that January is not typically a big buying season. So we expected a little bit of a lift in the later part of the quarter, and we’ve seen that come to pass over February and March. We’ve seen this slight uptick in overall volume. This leads us to believe that we will see a bit of an uplift in the spring buying season.”