As the average 30-year fixed mortgage rate stabilizes around 6.8%, lenders must pivot from refinance to purchase lending. This involves equipping loan officers with effective tools, enhancing collaboration with real estate professionals, and deepening market community ties. Additionally, educating potential homebuyers about the current rate environment is crucial for fostering trust and confidence. Clear communication regarding rates, affordability, and future refinancing options, through various channels, is essential for lenders aiming to meet borrower needs in today's evolving market.
The average 30-year fixed mortgage rate sits around 6.8%, prompting lenders to prioritize purchase lending over refinancing due to the current market conditions.
Educating borrowers about mortgage rate impacts offers lenders a chance to build trust and reduce uncertainty in a fluctuating market, enhancing homebuyer confidence.
Collection
[
|
...
]