Maxwell’s Post

Is it too early to call this a market recovery? 👀  For the first time in the current market cycle, Maxwell's exclusive mortgage lending data is showing year-over-year gains in loan volume.  👇 While it may still be too early to tell, our latest report uncovers noteworthy trends that hint at brighter days ahead. Dive into the report yourself and discover the strategies lenders should embrace to navigate the opportunities and challenges of the upcoming year. Get your hands on the report now. Download your copy here: https://bit.ly/4bv6f7U

𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 > overall mortgage lending for Q1 was $14.36bn, 13% higher than Q1 in 2023. The latest mortgage lending numbers released last week by the Reserve Bank gave us the complete picture for the first quarter of 2024 - and encouragingly lending levels remain strong against a sustained higher OCR. Since July 2022, lending to First Home Buyers (FHBs) has been higher than investors, although with the re-introduction of interest deductibility, we expect investors to return and that to be reflected soon in these numbers.   Lending to FHBs was 20% higher in the first quarter of 2024 than in the same period last year, and for several quarters now has made up ~23% of total lending.   For more insights and analysis of factors influencing demand for construction - download your copy of the latest Pulse Report. In conjunction with BRANZ, CreditWorks and Forsyth Barr - it's a must-read - link in comments. #nzarchitecture #nzbuilding #economicinsights

Good morning LinkedIn! Let's Talk Credit Report vs. Credit Score. The most common question we get is, "Why is the mortgage credit score lower than my independent free FICO score?" Did you know there are different credit algorithms depending on the monitoring service reporting the score? Some monitoring services partner with your bank for free, and often report just one bureau. Mortgage lenders use all 3 scores, and the middle score is used to determine the baseline for the interest rate quoted. As a mortgage lender, our reporting metrics can be more aggressive. This is typical, because we lend much more money then traditional revolving or installment lenders. If you'd like to apply and find out your credit score from a mortgage lending standpoint, it's never to early to do an application and see where you stand to baseline some goals if your intent is to purchase a home anytime soon.

In today’s market, mortgage lending is especially challenging. That’s why we collaborated with Jim Deitch, certified mortgage banker and CEO/Founder of Teraverde®, to combine our industry expertise and present these 6 strategic tips that can help your FI reduce cost, increase efficiency, and build a sustainable, profitable mortgage lending portfolio. https://lnkd.in/e_9iTqSv

In the realm of home buying, knowledge is power. My past careers in retail and commercial banking have given me the insights into the complexities of mortgage lending, home loans, and commercial financing and lending. Driven by my commitment to clarify financial jargon, I’ve compiled a wealth of knowledge into my innovative financial dictionary. This resource is meant to provide homebuyers with clarity, offering accessible explanations of terms ranging from “amortization” to “escrow” and beyond. With this guidance, I want to help you confidently decipher loan documents, understand interest rates, and make informed decisions throughout the home buying process. Find the Financial Dictionary here: https://lnkd.in/eY2n9MXG

⚡️Lending update: 1. Home lending increased by 3.1% in March, with strong growth in first home buyer financing and investor finance. 2. Investor finance made up 36.8% of new mortgage lending in March, exceeding the decade average for 10 consecutive months. 3. First home buyer financing rose by 4.4% in March, making up 29.7% of owner-occupied lending, above the decade average. 4. Average new variable rates for owner-occupiers and investors held steady in March, while short-term fixed rates dropped slightly. 5. Mortgage originations for riskier lending types are near historic lows, but there are signs of slightly relaxing lending policies.

A useful article for those with any concerns about their access to lending. There are currently 1,889 mortgage products specifically for investors, and that number is rising. Here are 3 key tips when it comes to mortgages: 1. Work with a whole of market broker that has access to every product 2. Understand all fees associated so you are comparing like for like 3. You will not be suitable for every product, and that's ok https://lnkd.in/dZ3KgW7i

In today’s market, mortgage lending is especially challenging. That’s why we collaborated with Jim Deitch, certified mortgage banker and CEO/Founder of Teraverde®, to combine our industry expertise and present these 6 strategic tips that can help your FI reduce cost, increase efficiency, and build a sustainable, profitable mortgage lending portfolio. https://lnkd.in/gufeNwKE

In today’s market, mortgage lending is especially challenging. That’s why we collaborated with Jim Deitch, certified mortgage banker and CEO/Founder of Teraverde®, to combine our industry expertise and present these 6 strategic tips that can help your FI reduce cost, increase efficiency, and build a sustainable, profitable mortgage lending portfolio. https://lnkd.in/gxPCBSP9

In today’s market, mortgage lending is especially challenging. That’s why we collaborated with Jim Deitch, certified mortgage banker and CEO/Founder of Teraverde®, to combine our industry expertise and present these 6 strategic tips that can help your FI reduce cost, increase efficiency, and build a sustainable, profitable mortgage lending portfolio. https://lnkd.in/eYdq6ZpY