Wishing all our readers, customers, partners and associates a very happy new Year in 2014. Hope the year brings the best out of each and every one of you.
The mortgage industry has been going through its ups and downs over the course of the past several months, and in typical fashion, the holiday season - from after Thanksgiving to January - has been slow. This is nothing new - and the contract processing business has experienced this slowdown every year. The big picture is however based on the following trends
* Interest rate hike: the fed has firmly decided to increase rates once unemployment hits 6.5%.
* QE: Here again the fed has decided to scale back on its bond buying program from the current $85 B level in stages in anticipation of a better economy.
* The Mortgage Bankers association has predicted that the number of Purchases is set to increase as a percentage of all mortgages in the country and this is reflected in their projections (data upto Oct 2013)
Here's wishing that the new year brings new jobs and better employment prospects to those that already have them. We are here to support you all ! Visit www.privocorp.com for more information.