Post 2020 Unique Market - What Does It Mean For The Mortgage Advisor

By Author: Ajit Singh
Total Articles: 1
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2020 was a tough year...hard to find things to celebrate and think positively about, outside of making it to 2021. One bright spot was the housing market. This same housing market that is shedding its light into the first half of 2021. Although many homeowners needed to exercise the need for forbearance programs, we did see anxiety in the economy push mortgage rates to record lows. This spurred one of the hottest markets for mortgage products in history. Record activity due to low rates, leading to increasing property prices and ultimately now, a shortage of inventory.

This some would say is the perfect storm, and a hell of a perfect time to be in the housing, real estate, and mortgage business.

Now, there is an interesting mix of circumstances present today. Rates are rising ever so slightly. But...still drastically low from years ago, thus still making it an opportunistic time to buy. While housing demand has risen, the supply chain has not kept pace. Builders and suppliers have been compromised, thus limiting inventory. What does this mean, a market of high prices and buyer frenzy as many ...
... many buyers compete for the little inventory currently on the market.

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