Taylor Swift sang of a “Cruel Summer” and vendors and lenders hope that it isn’t. “If you ever get cold, stand in the corner of a room for a while. They’re normally 90 degrees.” Much of the U.S. is anything but cold. Today, depending on where you are on the globe, is the Summer Solstice, has to do with the tilt of the Earth’s axis and the Tropic of Cancer, an imaginary line circling the globe which marks the most northerly latitude where the sun can be directly overhead. Here in Hawai’i, in terms of daylight, the difference between summer and winter solstices is only about 2 ½ hours (versus 7 ½ hours in Seattle or 6 hours in Boston; nearly 0 at the equator). The U.S. Federal Reserve is not timeless like the seasons, but when it publishes something, people snap to. In this case, “Comparing mortgage rates that borrowers obtain to rates that lenders could offer for the same loan, the authors find that many homeowners significantly overpay for their mortgage, with overpayment varying across borrower types and with market interest rates.” Today’s podcast is found here, and this week’s is sponsored by Quontic whose mission is to help creditworthy borrowers obtain home loans and give them the “yes” they’ve been waiting for. Hear an Interview with Quontic’s James Hooper on innovative mortgage loan programs created to be adaptive to customers’ unique circumstances, reducing paperwork in the process. Software, Products, and Services for Lenders and Brokers