|Dwight Johnston, Vice President and Chief Economist for the California and Nevada Credit Union Leagues|
STAYING AHEAD OF THE MORTGAGE CURVE
updated 10/17/13 10:55 AM
Some Positives for CA, NV
With a sudden surge in mortgage rates, it’s time to look at the impact. It’s not as bleak as you might think.
I’ll start with the bleak. The refinance market has hit a brick wall. Activity in the United States fell by more than 50 percent since the first quarter, and a further slowdown is likely.
When mortgage rates were at their lows in early 2013, 80 percent of all U.S. mortgages could theoretically be refinanced. This doesn’t take into consideration that some mortgages wouldn’t be eligible due to having negative equity. The 80 percent dropped to 30 percent.
2014: CU LENDING SECTORS IN FOCUS updated
03/11/14 09:53 AM
HELOCs, Credit Cards, Personal Loans
Which loan sectors should credit unions focus on as the economy prepares for employment and wage growth in 2014?
CO-OP AND ALKAMI FORM PARTNERSHIP updated
03/08/14 08:42 AM
Integrated Online and Banking Solution
CO-OP Financial Services and Alkami Technology, Inc. are banding together on a bundle solution that includes CO-OP Bill Pay and the Alkami ORB Platform. This enables credit unions to offer members a fully-integrated online and mobile banking bill payment solution.
CUs ENGAGE LAWMAKERS ON CAPITOL HILL updated
03/07/14 12:29 PM
New Legislators Show Support
As Congress considers tax reform, data security, regulatory relief, and other vital credit union issues, this year’s 2014 Governmental Affairs Conference (GAC) in Washington D.C. was a pivotal event for credit union executives and board members who advocated face to face with legislators on behalf of their members and the movement.