The Hurdles Ahead

In the article “The Hurdles Ahead” in the December 2023 edition of MortgagePoint magazine, Greg Austin, EVP, Mortgage Lending, for Carrington Mortgage Services, was asked to comment on where the industry might be going in 2024.

 

"There is no indication that home prices will fall enough to have any material difference on the market," Greg shared. "As long as rates remain high, buyers will be stagnant, especially those that hold a 2.75% to 3.5% current mortgage, hence listings will remain low. The only thing that can open the market up will be a meaningful reduction in interest rates. Once rates come back down, activity will certainly pick up."

 

There's much more. Read the article here.