Who needs a loan to buy a home? Loan originations are down to a three year low.
ByThe housing market is running on opioid induced euphoria and the tentacles of mania are deep into every large metro area. You would think given all this unchecked optimism that mortgage originations would be near a record level since you would assume people are out buying in mass. Yet that is not the case. What is happening is people are fighting over the scraps with low inventory and are bidding prices up on crap shacks to ridiculous levels. And there is data to back this up which is important because people are living in an alternative reality. Loan origination volume hit a three year low this year. What? How is that possible when all the cheerleaders are out in the streets preaching the good gospel of buying real estate? Well the reality is that a good portion of the market is still driven by investors…
Who needs a loan to buy a home? Loan originations are down to a three year low.
