The housing market continues to strengthen, which is good news for many industries. Even with the interest rates on home loans rising, consumer confidence is returning and more individuals could begin to look toward investing in a house of their own.
Financial institutions must keep up-to-date on such changes, as these factors could dictate the amount of potential borrowers who might begin trying for a home loan. Strong and thorough application processing software is a necessary tool for banks of all sizes, so they can make lending decisions that will keep themselves—and their clientele—in good financial standing.
A recent report from the National Association of Realtors (NAR) shows that the housing market is still moving upward, with home sales reaching their highest level since 2009. Specifically, U.S. home sales increased to a seasonally adjusted rate of 5.39 million in July, which is also a 6.5 percent jump from June's numbers.
According to CBS News, steady hiring and historically low mortgage rates have both contributed to the housing market's growth within the last year. Some banks have also begun to ease their lending standards, giving more individuals an opportunity to receive a loan.
The news source quoted a research note written by Patrick Newport, an economist with IHS Global Insight. According to him, the size of the increase in sales was a surprise, especially since mortgage application rates have dropped since June.
"Fence-sitters who missed the bottom likely accounted for July's sales surge. If this is the case, sales will likely plunge in August."
Even if a financial institution has already eased some of its lending standards, as the news source said, it is still important to remain as fiscally responsible as possible. Investing in current loan management software will help banks assist potential lenders, ensuring that they can remain on top of all of their financial responsibilities.
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The housing market continues to strengthen, which is good news for many industries. Even with the interest rates on home loans rising, consumer confidence is returning and more individuals could begin to look toward investing in a house of their own.
Financial institutions must keep up-to-date on such changes, as these factors could dictate the amount of potential borrowers who might begin trying for a home loan. Strong and thorough application processing software is a necessary tool for banks of all sizes, so they can make lending decisions that will keep themselves—and their clientele—in good financial standing.
A recent report from the National Association of Realtors (NAR) shows that the housing market is still moving upward, with home sales reaching their highest level since 2009. Specifically, U.S. home sales increased to a seasonally adjusted rate of 5.39 million in July, which is also a 6.5 percent jump from June's numbers.
According to CBS News, steady hiring and historically low mortgage rates have both contributed to the housing market's growth within the last year. Some banks have also begun to ease their lending standards, giving more individuals an opportunity to receive a loan.
The news source quoted a research note written by Patrick Newport, an economist with IHS Global Insight. According to him, the size of the increase in sales was a surprise, especially since mortgage application rates have dropped since June.
"Fence-sitters who missed the bottom likely accounted for July's sales surge. If this is the case, sales will likely plunge in August."
Even if a financial institution has already eased some of its lending standards, as the news source said, it is still important to remain as fiscally responsible as possible. Investing in current loan management software will help banks assist potential lenders, ensuring that they can remain on top of all of their financial responsibilities.
[:es]The housing market continues to strengthen, which is good news for many industries. Even with the interest rates on home loans rising, consumer confidence is returning and more individuals could begin to look toward investing in a house of their own.
Financial institutions must keep up-to-date on such changes, as these factors could dictate the amount of potential borrowers who might begin trying for a home loan. Strong and thorough application processing software is a necessary tool for banks of all sizes, so they can make lending decisions that will keep themselves—and their clientele—in good financial standing.
A recent report from the National Association of Realtors (NAR) shows that the housing market is still moving upward, with home sales reaching their highest level since 2009. Specifically, U.S. home sales increased to a seasonally adjusted rate of 5.39 million in July, which is also a 6.5 percent jump from June's numbers.
According to CBS News, steady hiring and historically low mortgage rates have both contributed to the housing market's growth within the last year. Some banks have also begun to ease their lending standards, giving more individuals an opportunity to receive a loan.
The news source quoted a research note written by Patrick Newport, an economist with IHS Global Insight. According to him, the size of the increase in sales was a surprise, especially since mortgage application rates have dropped since June.
"Fence-sitters who missed the bottom likely accounted for July's sales surge. If this is the case, sales will likely plunge in August."
Even if a financial institution has already eased some of its lending standards, as the news source said, it is still important to remain as fiscally responsible as possible. Investing in current loan management software will help banks assist potential lenders, ensuring that they can remain on top of all of their financial responsibilities.
[:it]The housing market continues to strengthen, which is good news for many industries. Even with the interest rates on home loans rising, consumer confidence is returning and more individuals could begin to look toward investing in a house of their own.
Financial institutions must keep up-to-date on such changes, as these factors could dictate the amount of potential borrowers who might begin trying for a home loan. Strong and thorough application processing software is a necessary tool for banks of all sizes, so they can make lending decisions that will keep themselves—and their clientele—in good financial standing.
A recent report from the National Association of Realtors (NAR) shows that the housing market is still moving upward, with home sales reaching their highest level since 2009. Specifically, U.S. home sales increased to a seasonally adjusted rate of 5.39 million in July, which is also a 6.5 percent jump from June's numbers.
According to CBS News, steady hiring and historically low mortgage rates have both contributed to the housing market's growth within the last year. Some banks have also begun to ease their lending standards, giving more individuals an opportunity to receive a loan.
The news source quoted a research note written by Patrick Newport, an economist with IHS Global Insight. According to him, the size of the increase in sales was a surprise, especially since mortgage application rates have dropped since June.
"Fence-sitters who missed the bottom likely accounted for July's sales surge. If this is the case, sales will likely plunge in August."
Even if a financial institution has already eased some of its lending standards, as the news source said, it is still important to remain as fiscally responsible as possible. Investing in current loan management software will help banks assist potential lenders, ensuring that they can remain on top of all of their financial responsibilities.
[:tr]The housing market continues to strengthen, which is good news for many industries. Even with the interest rates on home loans rising, consumer confidence is returning and more individuals could begin to look toward investing in a house of their own.
Financial institutions must keep up-to-date on such changes, as these factors could dictate the amount of potential borrowers who might begin trying for a home loan. Strong and thorough application processing softwar
e is a necessary tool for banks of all sizes, so they can make lending decisions that will keep themselves—and their clientele—in good financial standing.
A recent report from the National Association of Realtors (NAR) shows that the housing market is still moving upward, with home sales reaching their highest level since 2009. Specifically, U.S. home sales increased to a seasonally adjusted rate of 5.39 million in July, which is also a 6.5 percent jump from June's numbers.
According to CBS News, steady hiring and historically low mortgage rates have both contributed to the housing market's growth within the last year. Some banks have also begun to ease their lending standards, giving more individuals an opportunity to receive a loan.
The news source quoted a research note written by Patrick Newport, an economist with IHS Global Insight. According to him, the size of the increase in sales was a surprise, especially since mortgage application rates have dropped since June.
"Fence-sitters who missed the bottom likely accounted for July's sales surge. If this is the case, sales will likely plunge in August."
Even if a financial institution has already eased some of its lending standards, as the news source said, it is still important to remain as fiscally responsible as possible. Investing in current loan management software will help banks assist potential lenders, ensuring that they can remain on top of all of their financial responsibilities.
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