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Is refinance business dying?

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Mortgage Professional America | 18 Dec 2015, 06:30 AM Agree 0
The refinance boom is over, according to one industry veteran
  • Keith howard | | 18 Dec 2015, 11:34 AM Agree 0
    28 years of refinancing mortgages has taught me not to sell rates. There is soooo much business left to get. I'm soooo glad everyone has a defeatist attitude about a rate hike. They are the same idiots that cannot even sell a low rate. I won't point out the massive amount of refi's I see and why, I'm living it shouting with joy that my competition is giving up. If you want to know why, your on your own.
    Right now the rate hike is just getting more idiots out of the business. The fishing in a barrel days are over, but if you know how to hunt, it's time for abundance.
  • Bill Morris | | 18 Dec 2015, 11:38 AM Agree 0
    Read Keith's statement again. He states it perfectly. He has 5 years seniority on me in this business. I am excited for those that aren't in for the long haul to move on to something else!!
  • realist | | 18 Dec 2015, 11:58 AM Agree 0
    We are going to see the biggest refi boom in history in 2017-2018. The FED will be forced to reverse course in mid 2016 as we will be in a massive recession and stock market collapse due to over leverage in bond market. Will make 2008 financial crisis look like picnic. We will see QE4-QE infinity and negative interest rates. Will see the 10 yr. go below 1.0% which will yield 30 yr. fixed rate mortgages at 2.0%. It's going to be a bonanza.
  • | | 18 Dec 2015, 01:40 PM Agree 0
  • #LAMortgagebrokr | | 18 Dec 2015, 05:20 PM Agree 0
    The rate and term refinance has been gone for a long time, people will adapt to these rates in no time, if we don't have a prime rate increase, the R/E prices will keep rising, and values have to subside, if they don't here comes 2007 again. I work in LA CA area, $1Mil
    Prices are the new norm, this is not going to be sustainable if it takes a DNA and a blood type to get a mortgage.
    Doesn't matter if you been in the business for 25 years or 15 Years, if you survived 2008 - 2010 this will be a piece of cake. Positive thinking my fellow colleagues, adapt and survive.
  • FormerbrokernowCU | | 19 Dec 2015, 12:35 PM Agree 0
    <<~~~~survivor. Agree with Keith. I am swamped all of the time. Of course I have lot's of purchase and construction knowledge.
  • Down to Listen | | 20 Dec 2015, 09:50 AM Agree 0
    Can I ask where and how you have come to this conclusion? This is my first time hearing anything like it.

    My experiences tell me that there are WAY too many factors that come into play to make a prediction like that one: Who will take office, which party controls Congress and the Senate, etc. I'm hoping to see some more positive things... it would be nice. But I'm also open to listening to input, considering new opinions, and if I'm lucky, maybe even learning a few new things.
  • Down to Listen/Learn | | 20 Dec 2015, 09:52 AM Agree 0
    Sorry. That was for "Realist".
  • natedogg | | 21 Dec 2015, 12:50 PM Agree 0
    I agree with realist, the ten year will be below 1% sometime in the next few years, as the short end of the curve goes negative.
  • Mike Miller | | 28 Dec 2015, 08:42 PM Agree 0
    You are all idiots. The country is heading for a complete financial meltdown and the only boom you are going to get is the sound of the total collapse of the country.

    Just like 2005 and 2006 when everyone was still saying there weren't any real problems in the housing market, you are going to witness a repeat of history, only this time it is going to be much worst. Couldn't happen to a greater bunch of fools.
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