The $44 billion Navy Federal is one among many credit unionsseeing a boom in mortgage activity due to falling interestrates.
The country's largest credit union said it had seen a recordsurge in mortgage applications in the middle part of August, withvolume up 50% since the early part of the month.
But unlike other credit unions which have seen a sharp rise inapplications to refinance existing loans, Navy Federal reportedthat the mortgage volume is split between refinance applicationsand those to purchase property.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
