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Lenders See Near-Future Drop in Loan Demand and Profitability

Lenders See Near-Future Drop in Loan Demand and Profitability

Mortgage lenders are pragmatic about their business prospects over the next quarter, expecting mortgage rates to continue to increase and refinance activity to decline accordingly. Fannie Mae’s Q1 Mortgage Lender Sentiment Survey (MLSS) found 75 percent of the lenders responding expect lower profit margins over the next three months, a 10-point increase from the Q4 2021 survey. Seventeen percent expect no change in profitability while 9 percent are looking for growth. It was the sixth consecutive quarter that the profit outlook was negative, and the net positive of -66 percent was the lowest in the survey’s eight-year history. Lenders cited competition, changes in market trends and in consumer demand as the top reasons for predicting a profit decline. They were also more pessimistic
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