Working in the Mortgage Loan Industry Today
Cyclical. Rollercoaster. Dynamic. Whatever the term you use to describe the mortgage industry, the take away is the same. It has its ups and downs. Whether you are in the retail market or broker market, they both are affected by the same rates. Each market has it’s own tools on how to deal with those rate hike fluctuations.
In his recent article, Jonathan Ponciano, of Forbes, wrote about the possibility of housing prices falling by 20% in some of the nation’s major housing markets.
Tejas Joshi, a director at investment firm Yieldstreet, expects home prices could face 20% decline in some regional markets.
It takes experience (a little bit of luck wouldn’t hurt either) to weather housing market turbulence. With high inflation numbers and the events happening in Ukraine and Russia, the market is anything but stable at the moment. Sometimes it takes a little bit of belt tightening and out of box thinking to keep a mortgage brokerage afloat.
But I’ve been through this before and came out in one piece. If you want someone on your side that has weathered this storm before, give me a call.