Transitions in Real Estate and Mortgage Trends
If you are looking to buy or sell a house right now, you may be curious about how the pandemic has affected the real estate market. Motto Mortgage President, Ward Morrison, joins us on this episode of the podcast to discuss the changes regarding interest rates, refinancing, and home transactions.
Ward Morrison, President of Motto Mortgage, is back on the Start With A Win podcast to discuss recent mortgage trends as a result of COVID-19, as well as his predictions for the next few months. Since the Fed lowered interest rates earlier this spring, there has been an almost overwhelming demand on mortgage loan originators for refinances and home sales, which is suitable for consumers, real estate agents, and loan originators like Motto Mortgage. Communication is more important than ever to ensure applications and transactions keep moving, considering Ward’s prediction that interest rates will drop a little bit more in the next few months.
While this real estate climate may be advantageous for many families who are looking to refinance at better terms or buy or sell, many Americans are on the other end of the spectrum trying to figure out how to pay their bills while on unemployment. Ward shares that people can reach out to their loan servicers to discuss forbearance options that would fit their circumstances. Another current unique aspect of the real estate transaction includes the increasing use of virtual and digital tools, sometimes making the entire process completed without any in-person interactions. Relationships and communication are becoming all the more important for loan originators like Motto Mortgage, just as real estate agents are finding with their clients. Motto Mortgage is a franchise mortgage brokerage firm, which means they can shop around for their clients and provide the best options for their particular situations.
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