Lenders are seeing encouraging signs in the housing market; see what’s changing

Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Some lenders are seeing a bump in activity in the mortgage sector early in 2023. But interest is still well below where it was this time last year as the Fed ponders additional rate increases to cool the economy.

Read: Michigan State University shooting: 3 dead, 5 injured; suspect dead

Wendy Dawson, vice president of mortgage lending for Raleigh, North Carolina-based Coastal Credit Union, said her institution, which executed about $700 million in mortgages in 2022, has seen a recent uptick in interest in mortgage applications.

“It’s a combination of the rate coming down slightly … and also we’ve kind of gotten over the shock and awe of the rate escalating like it did last year,” she said.

Click here to read the full story on the Orlando Business Journal’s website.