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Current Trends in the Mortgage Industry – Mortgage Loans

The iServe Blog


What’s next for the real estate market and mortgages in general? It may sound like a question about the news or even politics, but the latest trends could impact the way you buy your next home and how much you spend. From the number of new homes being built to a more relaxed approach to lending guidelines by mortgage loan lenders, these trends could change the way you buy your next home. Here’s what our experts predict is coming to the industry in 2017:

5 Mortgage Trends to Watch in 2017 and Beyond

Climbing Interest Rates

Recently, interest rates were raised for the second time since 2006; the Federal Reserve predicts more increases to come. This increase will cause mortgage rates to creep up, making it more expensive to buy a home. If you are planning to buy a home, getting your residential mortgage application in sooner rather than later may help you save money.

Better Possibilities due to Looser Credit Standards

Relaxed lending standards will make mortgages more accessible to more people; if you were declined in the past or felt you would not qualify, now is the time to talk to a mortgage loan specialist. You might be surprised at how easy the process is and what you can qualify for.

Increase in New Home Builds

More new homes are being built after a long hiatus due to the housing bubble a few years ago. More new builds is good news for buyers; there will be more inventory to choose from and more competitive pricing and perks for those who buy as builders compete for your business.

Mid-Sized City Growth

Big cities like Chicago and Philadelphia make headlines, but smaller cities like Raleigh NC, Columbia SC and Fort Collins CO are more appealing to buyers. As these smaller cities continue to grow and attract industry, they offer a great place to live and more affordable housing than their big city counterparts.

Foreign Buyers Continue to Invest

High ticket areas like New York and Los Angeles continue to see a rise in real estate prices due to foreign buyers and investors. Homes in these areas are consistently in demand with foreign investors, so prices may stay high.

The latest trends are a mixed bag for homebuyers; the relaxed guidelines will make it easier to buy a home, but some areas could see an increase in costs due to the number of buyers seeking homes. No matter where you live, learning more about your residential mortgage options or speaking with a loan expert can help you decide if this is the right time to invest in your new home.

One of our home mortgage professionals can help you learn more about your options; we can help with everything from conforming loans to VA mortgage loans and FHA loan products. Contact us or try our online app to see how easy it is to get started.