Guaranteed Rate Celebrates Record Breaking Month
March proved to be a record breaking month for Guaranteed Rate, setting three new records that month alone. With the housing market being highly-competitive, the company proved its expertise by having 8,858 in total locked units and 7,428 in locked purchase units. With an increase of 52% from February, Guaranteed Rate locked $2.3 in purchase volume.
The previous locked unit record, which occurred in July 2016, when the total origination volume was over $2.1 trillion. The additional records, locked purchase volume and locked purchase units, were set in May 2017, a year where total origination volume was over $1.8 trillion.
Freddie Mac forecasts the 2018 loan originations market to be down about 20% compared to 2016, according to Victor Ciardelli, CEO and Founder. “To capture our best performing month in a shrinking mortgage environment speaks volumes to what our team can accomplish and is evidence we are seizing market share from our competitors.”