Second quarter 2023 trends are similar to first quarter.
Overall, we're seeing the same trends as we did in the first quarter: rising interest rates, rising fees, movement toward safer investments. Closing ratios are down significantly, indicating lenders are more selective about the loans they are willing to do.
Note: These data include detailed breakdowns of numbers that are most likely to affect lender's day-to-day decision-making. However, numbers are based on national data, which may not be as relevant to your specific geographic area. The analysis is based on date exclusively from lenders who have undergone complete onboarding and actively utilized the system during both the first and the second quarters of 2023. The database encompasses nearly 15,000 loans, ensuring a comprehensive representation of the market dynamics during the specified period. Keep in mind that although the loan product definitions included here may serve as a guide for readers, lenders self-select the loan type for each transaction they enter into the platform.
By Pavel Tchourliaev
Private Lender, The Official Magazine of AAPL
Fall 2023 (Q4), p. 34-35