HECM endorsements inched up 0.7% to 2,408 loans in November, again illustrating the benefits of lower 10 year CMT rates a few months back. We’d expect perhaps another month or so of similar volume before the recent increases in that key rate exert their unfortunate gravity on these volume figures.
The regions were somewhat negative in a mostly flat month overall, with just 4 of 10 managing an increase:
- Southeast/Caribbean bounced back from a poor October showing, recovering 19.7% to 510 loans
- Pacific/Hawaii grew 4.1% to 628 loans
- Great Plains added 1 loan (2.6%) to 39 loans
- Mid-Atlantic increased 1.9% to 164 loans
The top 10 lenders were evenly split:
- Guild jumped 40.4% to 80 loans
- Plaza gained 32.5% to 53 loans
- Liberty grew 32.1% to 111 loans
Click the image below for the full report.
