Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices.
Meanwhile, in addition to diversifying their portfolios, brokerage firm owners are keeping their cost structure under control to be profitable in a shrinking market. Amid the Federal Reserve’s tightening monetary policy and political instability, they believe the market will shift at least six months from now.
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