endless waves rising interest ratesthus the more expensive debt and the destruction of consumer demand keep buyers away from new sales. Mortgage lenders are now dismissal Their strengths are hoping to weather the quagmire of a weak market. Is this short-term bleeding the right move? origin bank Senior Mortgage Loan Officer and Mortgage Advisor, Theriot Mortgage Group GP Theriotbelieves that mortgage lenders and the larger home sales industry are stuck between a rock and a hard place.
Thoughts of GP
“We have definitely seen a change in the mortgage industry. Interest rates have risen and loan applications have dropped significantly. No. Do you want to keep your operations full force or do you have to let people go?
Because there is a big problem here. If interest rates start to fall, we will see a big swing here. And that’s the problem. When will interest rates start to fall? The rumor is that interest rates could start falling by the first quarter of 2023, or by the third quarter at the latest.
So it’s one of those questions about whether you’ll weather the storm or be prepared. Because when those rates return to five times his, there will be a lot of re-fi boom. It will give confidence to those returning to the streets to buy a home. So this is an interesting time and only time will tell how we can prepare for it anyway. ”