Friday, August 5, 2022

Predictions for the Summer 2022 housing market

Substantial price gains, intense competition, and more have been known to stifle the home buying process in the past, and now with mortgage rates continuing to be on the rise, what does that mean for potential homebuyers?

For many, higher rates mean increasing price ranges. But when even basic single-family homes are coming with the price tag of a lavish pad these days, buyers are having to choose between postponing their purchase or compromising on their preferred location. “The Fed has promised another interest rate boost. If you’re ready to buy, don’t wait because prices aren’t headed dramatically downwards to what our parents paid. Things might dip a bit, but there’s no cliff dive that’s going to happen," said Tabitha Mazzara, Director of Operations at Mortgage Bank of California.

Forbes Magazine partnered with mortgage and realty experts to make predictions for the housing market this Summer season. Read their full report here.

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Sales Bloomberg, the mortgage industry’s top-rated automated borrower intelligence and retention system, has released its latest Mortgage Market Opportunities Report. In their report, they project that sharp quarter-over-quarter increases in cash-out, credit improvement, and new-listing alerts in Q2 2022 will create areas of opportunity for lenders in the contracting mortgage market.

With New Listing Alerts continuing on the rise and reporting that new listings are coming in at a pace not seen since 2017, purchase origination opportunities continue to reign supreme in the market. It has been reported that Americans’ overall financial well-being has improved and lenders should reconsider revisiting loan applicants they once turned down.

Sales Boomerang and Mortgage Coach are trusted by more than 300 lenders, including brokers, independent mortgage companies, credit unions, and banks to connect borrowers with the right loan at the right time.

Real the full article here

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