Market Overview

Guaranteed Rate Celebrates a Record-Setting March

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Chicago, April 10, 2018 (GLOBE NEWSWIRE) -- Guaranteed Rate set three new records for the month of March, positioning 2018 to be its largest year in total loan volume. In a highly-competitive housing market, the retail mortgage lender showed it's the home purchase expert by achieving the following records: 8,858 in total locked units, $2.3 billion in locked purchase volume, a 52% increase from February, and 7,428 in locked purchase units.

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"It's absolutely astonishing to see these records achieved," said Founder and CEO Victor Ciardelli. "All our previous records were accomplished during the peaks of 2016 or 2017, with higher purchase volumes of mortgage originations."

Guaranteed Rate's previous record of overall locked units was set in July 2016 in a year where the total origination volume was over $2.1 trillion. And the locked purchase volume and locked purchase units records were both set in May 2017 in a year where the 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 Ciardelli. "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."

Further demonstrating aggressive growth, Guaranteed Rate has already had its largest loan officer recruiting class in the first quarter of the year, with expectations of having its largest hiring growth year in the Company's history.

About Guaranteed Rate

Guaranteed Rate is one of the largest retail mortgage lenders in the United States. Headquartered in Chicago, the company has approximately 210 offices across the U.S. and Washington, D.C., and is licensed in all 50 states. Since its founding in 2000, Guaranteed Rate has helped hundreds of thousands of homeowners with home purchase loans and refinances and funded nearly $19 billion in loans in 2017 alone. The company has become the Home Purchase Experts® by introducing the world's first Digital Mortgage technology and offering low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service. Guaranteed Rate won an American Business Award for its Digital Mortgage technology in 2016, ranked No. 1 in Scotsman Guide's Top Mortgage Lenders 2016, was chosen as Top Lender 2016 and 2017 by Chicago Agent magazine, made the Chicago Tribune's Top Workplaces list seven of the past eight years, and was named Best Overall Online Lender and Best Lender for FHA Refinance by NerdWallet in 2018. Visit rate.com for more information.

 

 

 

Grace Bondy
Guaranteed Rate
5176728001
Grace.bondy@rate.com

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