Refinancing

Lenders in a funk over mortgage market outlook 

Lenders reported a net negative profit margin outlook for the eighth consecutive quarter in the face of further erosion of purchase mortgage demand. According to Fannie Mae’s Mortgage Lender Sentiment Survey, lenders are feeling worse about the market this quarter than they were last year and last quarter. The biggest reason they have the mortgage blues? Competition from other lenders was the most cited reason by survey participants for the squeeze on margins.