Mortgage financing remains a major focus in the current economic market and there are firm opinions on what the new normal for housing should be. In recent developments, market experts have shared their insights on the state of mortgage financing and what the future likely holds.
Experts suggest that lending will stay tight and loan approval will remain strict, however, mortgage rates will remain low and there will be new methods of accessing financing. As the economic landscape continues to rapidly evolve, lenders will focus on refinancing over originations, build new consumer-facing technology that is digital-friendly, and use data for digital underwriting and loan quality assurance.
Summary of insights:
• Mortgage rates to remain low
• Lending to remain tight
• Loan approval to remain strict
• Refinancing to be favored over origination
• New consumer-facing technology to be built
• Digital underwriting and loan quality assurance to use data
You can read this full article at: https://www.housingwire.com/articles/is-the-sinking-housing-market-finally-at-the-bottom/(subscription required)
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