As Reagan said--trust but verify! Mortgage originations: In fact, $2.75 trillion in mortgages were originated in 2022, compared with $4.51 trillion in 2021. Originations in 2023 are on pace to be less than half than in 2022: $716.9 billion in the first half of this year, compared with $1.6 trillion in the first half of the prior year. Dated Aug 28, 2023. Looks like a 70% reduction to me. Also, loan volume is extraordinarily regional. High-cost areas are at a near standstill at the moment. If you're working parts of the country with a median home price below the national average ($410,000 ish), you're likely doing ok, but not great. I really hate tuning in to hear how people are absolutely killing it right now. It's like a bizarre episode of the Twilight Zone--like what planet did this guy just fly in from? I've also learned over the years, you take whatever an LO says their monthly production is and divide by 3 to get the truth...
Call is talking about the anxiety curve model. Great point legend!
Comparison is the thief joy.
How do you text Agent Intel Connect?
As Reagan said--trust but verify!
Mortgage originations:
In fact, $2.75 trillion in mortgages were originated in 2022, compared with $4.51 trillion in 2021. Originations in 2023 are on pace to be less than half than in 2022: $716.9 billion in the first half of this year, compared with $1.6 trillion in the first half of the prior year. Dated Aug 28, 2023. Looks like a 70% reduction to me.
Also, loan volume is extraordinarily regional. High-cost areas are at a near standstill at the moment. If you're working parts of the country with a median home price below the national average ($410,000 ish), you're likely doing ok, but not great.
I really hate tuning in to hear how people are absolutely killing it right now. It's like a bizarre episode of the Twilight Zone--like what planet did this guy just fly in from? I've also learned over the years, you take whatever an LO says their monthly production is and divide by 3 to get the truth...