Credit Unions Increase Their Mortgage Activity
Credit unions offer some of the best deals on loans – including mortgages.
Phil Hall recently documented this success in National Mortgage Professional Magazine. Hall – citing data from Callahan & Associates – said that credit unions posted positive growth in their first mortgage portfolios in 33 states during the second quarter of the year.
This was from a survey of around 6,000 credit unions involved in mortgage lending.
Credit unions have generated $62.6 billion in first mortgage originations during the first half of the year. Hall points out that this represents a 1.7 percent annual increase and the most loaned out since 2013.
“Check with your credit union before you sign anything” has long been savvy advice for any borrower. Loan shoppers often find that their credit union offers the best rates on auto loans, for instance.
These days, more and more loan customers are finding that their credit union is also the place to find the best deal on a mortgage.
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