While 203,000 jobs added to the U.S. economy in November is welcome news, it will push interest rates higher—specifically, residential mortgage rates. Those rising rates, along with tighter underwriting and fast-rising home prices, are pushing borrowers away from larger lenders.
"If you're buying a house, our advice is to find a local lender that's reputable," said Eric Egenhoefer, president of Waterstone Mortgage, a subsidiary of Milwaukee-based WaterStone Bank, an independent with reported assets of more than $1.6 billion. "An independent company in general is more nimble, can get to a closing faster and provides better service."
...
No comments:
Post a Comment