By CHUCK GREEN
Mortgage rates are hovering around 7% as the summer winds down and with potential homebuyers facing high monthly payments for the few properties for sale, people are wondering when the Federal Reserve will loosen its grip on monetary policy so the housing market can free up again.
Last month, Chairman Jerome Powell announced the key interest rate would be lifted to 5.25% to 5.5% — the upper figure representing a level not seen since 2001, according to the Associated Press. Powell said that they don’t expect to reach their goal of 2% inflation until 2025, and they do not intend to cut rates until next year.
“The Fed’s rate hikes attempt to combat inflation, increasing mortgage interest…
Churchill Mortgage announced two key executive changes as the company refines its workforce despite the housing slowdown.
Jesse Vazquez joined the company as VP of Talent Acquisition and Kelly Lee was promoted to EVP of National Production.
Lee joined Churchhill in June 2022 as SVP of Production for the Pacific Northwest. Prior to that, he served as EVP and Divisional Manager at PrimeLending, during which time the company’s West Coast presence grew from $280 million to $3.1 billion.
“I’m grateful for the opportunity to lead our national sales team and ensure we are hitting our production goals, while also remaining true to the values that have allowed Churchill to thrive for over 30 years,” said Lee. “Achieving sustainable and meaningful…
Churchill Mortgage has named Kelly Lee as Senior Vice President of Production in the Northwest region, the company announced in a press release. The appointment comes as part of Churchhill Mortgage’s expansion in the Pacific Northwest. Lee will oversee the entire division, which has 30 branches, including all production. “In addition to being a natural servant leader with a proven track record of developing profitable branches in the Pacific Northwest, Kelly has been a longtime mentor to me since I first started out in this business,” said Kevin J. Hanna, President of the Churchill Mortgage Pacific Northwest Region. “He’s an undeniable asset to the team with his attention to detail, knack for collaborative problem solving, and dedication to a people-centric…
