Brian and David Wickert give advice on selling and buying a home, reflect on the current economic climate and answer your questions about the mortgage world.
This week’s highlights:
- Brian and David review the 4 things that set Accunet Mortgage apart from local and national competitors.
- There’s a shortage of homes for sale in Southeastern Wisconsin. But how does this stack up with the national housing market?
- The economy still isn’t looking great—but it’s slowly getting better.
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The 4 types of mortgage lender, and how Accunet fits into the equation
In the mortgage world, you have a couple choices when it comes to picking a lender. With the exception of cash buyers, you’ll need to choose between one of the following lenders:
- Credit unions
- Mortgage brokers
- Non-bank independent mortgage bankers (like Quickenloans, Freedom Mortgage, Accunet, etc.)
Last week, the Consumer Financial Protection Bureau released data on three types of mortgage lenders, and their respective hold on the industry. (Since mortgage brokers sell their mortgages to one of the other three lenders, they weren’t counted in the data.) Here’s what they found:
Banks originate 31.4% of mortgages in America
Credit unions originate 8.8% of mortgages in America
Non-bank independent mortgage bankers originate 54.5% of mortgages in America
Needless to say, Americans seem to overwhelmingly prefer non-bank independent mortgage bankers (like yours truly). But, at its core, mortgages are a commodity—the money you receive to buy a home from QuickenLoans is no different from Freedom Mortgage, or even from an Accunet loan.
So, what sets Accunet apart?
Want to learn more?
Learn more about the Accunet process, and find the right loan for your next home purchase!Loan options
SE Wisconsin housing market update: June 28, 2020Following with recent trends, we’re still experiencing a shortage of new listings in Southeastern Wisconsin. So far in June, single-family detached home listings are down 24% year-over-year, with 606 fewer homes on the market than June 2019. This tracks pretty predictably with the last few months:
- April 2020: 852 fewer listings than 2019
- May 2020: 656 fewer listings than 2019
- June 2020: 606 fewer listings than 2019