Mortgage industry expert Stan Middleman recently addressed the issue of rising interest rates in the market, advising participants to prepare for a sustained period of elevated rates. Middleman emphasized the importance of adjusting to the concept of ‘higher for longer’ rates, suggesting that this trend is likely to persist in the foreseeable future. His remarks underscore the need for industry players to adapt their strategies and expectations accordingly.
Key points from Middleman’s statement include:
– Acknowledgment of the current and ongoing trend of rising interest rates in the mortgage market
– Emphasis on the need for market participants to embrace the concept of ‘higher for longer’ rates
– Advice for industry players to modify their approaches and outlook in response to this sustained trend
– Implication that the era of low interest rates may be coming to an end, requiring adjustments in business practices and forecasting.
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