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Refi Slowdown

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David Robinson

Freshman Member
Joined
Nov 27, 2015
Professional Status
General Public
State
Alabama
Refi’s are slowing and will probably continue to get slower as rates rise, so that’s probably 30-40% of my workload dropping to 15-20%. Anyone have suggestions on how they are dealing with this?
 

Bill75

Junior Member
Supporting Member
Joined
Dec 18, 2015
Professional Status
Certified Residential Appraiser
State
Texas
Refi’s are slowing and will probably continue to get slower as rates rise, so that’s probably 30-40% of my workload dropping to 15-20%. Anyone have suggestions on how they are dealing with this?

Vacation :beer:
 

Tom4value

Senior Member
Joined
Dec 4, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
Expand your client base! For mortgage financing, appraisals for purchase business is still going to be ok. Talk to your realtor contacts that are successful and ask them to recommend you to the lenders they use. Look at non-lender work. I literally just passed in an appraisal for a private party looking to get an idea on how much their waterfront home is worth. This was a referral from....a realtor! Talk to divorce and estate attorneys. As you know now, refies are low hanging fruit that doesn't last long.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Hobbies for the down and out. Learn to use a straight razor, don't buy blades. Build rabbit traps. Learn to fish. Get Euell Gibbons book on foraging wild plants. Make moonshine.
 

A K

Elite Member
Joined
Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
Not only rates but appraisal waivers probably eating into refinance orders as well.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
I picked up REO work and a few reviews. I do have a lot clients whose main line is purchasing, but like everyone else who does a lot of lender work, when refinance volume drops I will make less $. Learn a new skill , sideline, or enjoy a hobby- there is only so much $ to be made on the res side no matter what you do sometimes.
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
Although refi's have declined in the near term as the affects from the recent tax law changes refi's should kick up a bit as homeowners consolodate loans
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Refi’s are slowing and will probably continue to get slower as rates rise, so that’s probably 30-40% of my workload dropping to 15-20%. Anyone have suggestions on how they are dealing with this?
Haven't seen that in VA refis. NAR report a 3+% slow down in all sales nation wide.(Today's newspaper)
 

A K

Elite Member
Joined
Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
I think rates are close to topping for the year.
 

A K

Elite Member
Joined
Jul 31, 2013
Professional Status
Certified Residential Appraiser
State
Maryland
upload_2018-2-22_9-6-46.png

Sales chugging along. Anybody know a better site to track mortgage applications? This site looks like it is always three months or so behind. I want to see actual number of applications for purchase and refinance rather than a index.
 
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