In 2012, the United States housing market enjoyed what many now describe as a "nascent" recovery—not significant enough to calm all financial concerns, but promising enough to fill the home mortgage industry with some hope for a brighter future. A recent USA Today report affirms that home lenders are indeed betting on continued economic recovery—and specifically, for the modest improvements of 2012 to continue well into the coming year. This promising report has earned a comment from Gold Star Mortgage.
According to the USA Today report, many mortgage companies have begun to beef up their staffs, and plan to continue doing so throughout 2013. These staff increases are proving increasingly vital for companies trying to keep up with the expansion of lending, sales, and construction. Ultimately, the report concludes, mortgage companies are betting that 2012's nascent recovery "has legs."
Gold Star Mortgage has weighed in on these promising home mortgage trends with a statement to the press, commenting on the USA Today findings and on home loan trends in general. "Home sales and home values across the country are increasing, and this is fantastic news," said Gold Star Mortgage in a recent press statement. "The increase benefits potential borrowers as well as Gold Star Mortgage as a whole. An increase in home sales and values usually indicates that more people will be looking to refinance or to purchase a new home. Because of this, we are looking to expand our company early in 2013, as we are expecting to hire 20 employees at our corporate office by the end of February."
Meanwhile, USA Today reports that Wells Fargo Home Mortgage and other major lenders are following Gold Star's example, responding to increased home values and sales, as well as to the Federal Reserve's pledge to keep borrowing interest rates historically low. Wells Fargo projects a 27.7 percent increase in new housing starts in 2013 compared to 2012. This is a measure of new housing constructions, and is generally considered an accurate barometer of how well the housing market is performing.
