Your Cookies are Disabled! NationalNotary.org sets cookies on your computer to help improve performance and provide a more engaging user experience. By using this site, you accept the terms of our cookie policy. Learn more.

Notary Signing Agent News: Mortgage Refis Expected to Slump in 2017

Mortgage Refis Expected to Slump in 2017

Notary Signing Agents who depend heavily on mortgage refinance-related assignments may want to shift their efforts into getting other types of work in 2017. The refi market is expected to post a sharp drop throughout the year, according to various market forecasts.

But the overall outlook for next year includes some good news, and even the bad news might not be so bad.

The most recent forecast from the Mortgage Bankers Association (MBA) expects total home sales to grow 5.3 percent in 2017. The National Association of Realtors (NAR) projects a more modest 2.5 percent growth rate. That could mean more loan-signing assignments related to home purchases.

With interest rates expected to rise well above the 4-percent mark, refi activity is projected to drop by 46 percent, according to the MBA. But if recent history is any indication, that projection may fall far short. This year alone, refi activity is expected to exceed the forecast by 117 percent.

In any event, it may be worthwhile for NSAs to expand their networking, outreach and marketing activities to get assignments from other industries, such as law firms, healthcare facilities and others.

Michael Lewis is Managing Editor of member publications for the National Notary Association.

 

2 Comments

Add your comment

Caroline Wong

12 Dec 2016

No comment. I need to just be able to read the comment. Thank you.

National Notary Association

12 Dec 2016

Hi Caroline. If you are experiencing any difficulty reading Bulletin articles, please contact us at social@nationalnotary.org to let us know what article and what type of device you are using, and we'll try to help you resolve any issues.

Leave a Comment

Required *

All comments are reviewed and if approved, will display.