Callahan Clients, please log in for direct access to:
Learn What You're Missing
Upgrade Your Subscription
Thank you for your interest in reading the fantastic content we have on CreditUnions.com! However, the page you are trying to access is for subscribers-only. To learn more, select an option below.
All users must now log in to read, research, browse, and have fun on CreditUnions.com. Yes, we still offer freebies. And, yes, it’s worth the extra effort.
Print or PDF this article today because you won't have access to it later. Or, click here to learn how to get 24/7 access.
By Mortgage Cadence
What’s ahead in 2006 for those of us who finance homes for members? Two things for certain.
First, 2006 will be another great year for mortgage lending. Yes, mortgage rates will be higher in 2006, at least according to industry experts. Recent predictions tell us that the average cost of a 30-year rate loan will be about 6.50 percent. This 60 basis point increase over 2005’s average isn’t expected to have much of an impact on the size of the overall market. Total mortgage financing in 2006 will be roughly equivalent to 2005’s $2.78 trillion.
Be prepared, though, members will be buying more homes than refinancing their existing residences. More than 65 percent of next year’s financing activity will be for the purchase of a home. That’s up 12 percent over last year. What to do? Two things:
One final thought for 2006: Let’s make it a great year! Members have abundant home financing options. Let’s make sure they know that their best choice is their credit union.
This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.
If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at firstname.lastname@example.org or 1-800-446-7453.
January 16, 2006
Submit your email address to receive daily industry updates and web-only features.
P: (800) 446-7453 | F: (800) 878-4712
1001 Connecticut Ave. NW Suite 1001
Washington, DC 20036