Mortgage Rates Approaching all Time Lows
Mortgage rates are approaching all time lows…again
In case you have not been following mortgage lending rates activity, mortgage rates are again very close to what we experienced in the second quarter of 2013.
Here’s the link to a Mortgage News Daily e-newsletter article.
From the article:
Mortgage rates were widely available at 3.5 percent for much of the day today. At any other time from the middle of 2013 through the end of 2015, that’s not something that very many people thought they’d be able to say (or read, or think!). A few lenders had been dabbling in quoting conventional 30yr fixed rates of 3.5% earlier this week, but today saw a majority of lenders join that adventure–at least in the morning.
15 year rates are even lower.
I have also been reading that mortgage refinance applications have been increasing lately, spurred on by these incredibly low mortgage rates.
So we should begin to see an increase in assignments again. But who knows for how long?? My crystal ball has a crack in it and doesn’t predict the future very well any longer!
On a separate note, on February 11, 2016, the AQB released a discussion draft with several issues revolving around getting more people into appraising, and those who are currently ‘Licensed’ wishing to upgrade to ‘Certified.’ See below PDF file.
Follow the instructions on the PDF to submit your comments.
NOTE: this draft makes no change in the 4 year college degree requirement for NEW APPLICANTS who want to become an appraiser.
Discussion Draft – Potential Areas of Change to the Real Property Appraiser Qualification Criteria: All interested parties are encouraged to comment in writing to the AQB before the deadline of March 31, 2016.
Dave Towne on e-AppraisersDirectory.com
- New UAD Overhaul: What Appraisers Can Expect in 2025 & Beyond - September 19, 2024
- Cindy Chance Terminated - September 16, 2024
- Key Part of USPAP Not Available from TAF - July 19, 2024
i find articles like this very discouraging for the profession, and probably why so may appraisers have just given up caring or trying.
this article is a mere drop in the pond of all the problems the appraisal profession faces today.
after awhile, you have to assume that entities such as the AQB are completely out of touch with reality, and have no clue what is going on in the world they are responsible for.
the big problem isnt moving trainees to certified, the problem is getting new people into the profession. this discussion draft only tries to solve an extremely minor problem that is barely visible on the radar.
the bleeding continues . . . . .
Now that most underwriters are moving to automaton approaches where they just rely on XML dissemination programs to issue stips automatically, what’s the point? The better educated you are regarding real estate appraisal principals, the more difficult it is to work with lenders. Focus on underwriter qualification, and scrapping the UCDP program is obviously overdue. Lenders are increasingly demanding appraisers appraise to form, instead of appraising to market, and the automated aspect of underwriting review is resulting in a new mandate for the appraiser to not utilize thoughtful and dynamic solutions to fnma form filling.