| December 26, 2013
In 2013, there was a lot of action, politically, economically and socially. Obamacare opened a few cans, the government shutdown, the recession officially ended, Snapchat surged to the forefront of social media, “selfie” was named word of the year, the first Argentinian stepped up to the Pontiff, we welcomed the royal baby, said goodbye to Nobel Peace Prize winner Nelson Mandela and the Red Sox won the world series.
Also in 2013, the mortgage industry, and mortgage rates, had its highs and lows. Refinances boomed in the early half of the year, only to later fall flat. Housing prices came back up and people once again started purchasing homes. HUD announced some major changes that would affect homeownership starting in 2014.
So what does 2014 have in store? Below are some fun and interesting predictions:
- It’s not an election year, but big news will still be hitting the air waves as Hillary Clinton announces her run for Presidency in the 2016 election.
- With the media frenzy surrounding the royal family’s newest addition, there will be a surge in old-fashioned appellations such as Helena, Mary, Arthur, Louis, and of course George.
- Futbol fans everywhere will turn their eyes to Brazil as the 2014 World Cup commences on June 12th. The semifinals will come down to Brazil vs. Germany and Argentina vs. Spain. Ultimately it will come down to Brazil and Argentina, and of course as the hosting country, Brazil fully intends to bring home the win.
- With thousands of U.S. homeowners watching their home values come back up, DIY projects will be rampant, and home improvement loans will be the “it” instrument to keeping up with the Morgans.
- Although many signs indicate a rise in interest rates, the speed at which this happens is likely to be relaxed. With rates still at historic lows (as compared to the 10%-16% interest rates of the 80s), and the reality of mortgage affordability, purchase loans will be leading the growth in the mortgage industry.
- New home construction surged in November 2013, and with consumer homebuilder confidence at all-time highs in December, in 2014 we’ll continue to see an increase in housing starts.
- New American Funding will continue to deliver a vast array of loan products to cater to its clients, competitive interest rates, and all with a big smile to boot. A bias prediction? I think not.
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