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Mortgage rates are the highest they’ve been this year. Did loan officers expect this?

Housing Wire

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S.

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DataDigest: The pandemic housing frenzy never went away in these markets

Housing Wire

For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity. But there are still ultra-competitive markets in America where those conditions will simply be offset by rising prices. I mean very little inventory.

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How LOs, mortgage execs are preparing for 2024

Housing Wire

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. At the end of the day if mortgage rates come down, I don’t just think that’s gonna solve the inventory problem right away,” said Ben Cohen, managing director at Guaranteed Rate.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

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Selling this spring? 12 ways to use Easter decor to attract buyers

Cornerstone

The past year has been unprecedented for the housing market. Mortgage rates reached new lows multiple times, and buyers took advantage of this surge in affordability by snapping up available houses. Housing authorities like Freddie Mac predict a “strong spring sales season” ahead. Connect with a local loan officer now.