Independent Banker - December 2018 - 26

PORTFOLIO
Mortgage lending
in a seller's market
Lending
If community banks continue to use
common sense and their proven methods
of mortgage lending techniques, they should be able to
ride out the twists and turns of the real estate market.
By William Atkinson
here is no question these days that when it comes to
residential real estate, it's a " seller's market, " and prices
are high. How can community banks continue to make good
lending decisions based on these escalating prices?
The first question on many bankers' minds is whether
there any indications that the home market may crash
again as it did a decade ago. It is very unlikely in the near
future, according to Ron Haynie, ICBA senior vice president
of mortgage finance policy. " There is nothing in the
26 Q ICBA Independent Banker Q December 2018
T
cards like there was 10 years ago, " he says. " Rates are stable,
the bond market is strong, and we're not anticipating
any runaway inflation. "
Mortgage interest rates are about 1 percent higher than
they were in 2017, and, according to Haynie, rates may rise
another 0.5 percent in the next year or so. " However, a whole
percent increase in the next year would be unlikely, " he says.
In terms of prices, the greatest challenges with the higher
rates seem to be with entry-level prices, making it more
difficult for first-time homebuyers to qualify. As a result,
according to Haynie, with mortgage rates remaining a bit
higher, there may be some softening of home prices at the
lower end, or at least a slowing of the increase in prices.
However, he sees a reasonable amount of inventory in the
next bracket up.

Independent Banker - December 2018

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Table of Contents
Independent Banker - December 2018 - Intro
Independent Banker - December 2018 - Cover1
Independent Banker - December 2018 - Cover2
Independent Banker - December 2018 - Table of Contents
Independent Banker - December 2018 - 2
Independent Banker - December 2018 - 3
Independent Banker - December 2018 - 4
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