With historically low rates driving Connecticut’s mortgage activity in the first half of the year to its highest levels since 2013, new lenders had opportunities to grab a share of the market.
One of Connecticut’s small lenders is using fintech to prove it can play the same game as big, national lenders and win.
Although as of this writing the state legislature had yet to approve a budget for fiscal year 2018 – an issue that is starting to impact future development and loan growth – Connecticut lenders are finding success in pockets of the state.
How low can you go? Just when you thought interest rates couldn\’t get much lower, they jumped a full percentage point in June. While that\’s a positive sign for banks squeezed by razor-thin margins, it also means the robust refi market\’s days are numbered, and Connecticut banks are moving accordingly.
As unpredictable as the economy may be, there is one sure sign of life: home lending. The first half of this year ended with increases in home lending among many banks, mortgage companies and credit unions in the state.