This year’s mortgage market has been defined by record-high interest rates and hesitant homebuyers. In light of these challenging market conditions, many mortgage professionals are eager for a change in 2024. So, what does 2024 have in store for the mortgage and real estate markets? In this article, we’ll summarize some predictions for this coming year’s interest rates, housing inventory, … Read More
2023 was characterized by high housing prices and even higher interest rates. Unfortunately, these market conditions made homeownership feel out of reach for many would-be borrowers. As a result, most mortgage lenders had to get creative to maintain their profitability. Now that 2023 is coming to a close, you may be looking back on the year in search of key … Read More
When you decide to buy a home, you may peruse property listings online and even schedule a few showings. After all, these are the exciting parts of the home-buying process. But before you get your heart set on your dream home, it’s important to evaluate your mortgage eligibility first. Mortgage lenders consider many eligibility factors during the underwriting process. One … Read More
With the holiday season fast approaching, you may be planning your gift list, pulling out decorations, and preparing for the festivities. If you’re like 50% of consumers, you may have even started your holiday shopping. Amid all the excitement, it’s easy to lose sight of something important: your credit score. Fortunately, you can improve your credit score while you enjoy … Read More
This year, many mortgage lenders have faced huge hits to their revenues. According to the Mortgage Bankers Association, independent lenders reported an average net loss of $543 per loan origination in the second quarter of 2023. Meanwhile, mortgage demand has plummeted to a 28-year low. With rising loan origination costs and dwindling demand, many mortgage lenders are feeling the pinch … Read More
Did you know that mortgage applicants say an exceptional borrower experience is nearly as important to them as receiving the best rate? Unfortunately, only 42% to 67% of borrowers are satisfied with their borrower experience, according to a McKinsey & Company survey done on 1,200 residential mortgage customers. Providing an exceptional borrower experience is crucial if you want to succeed … Read More
