Going from a volatile rate environment in the latter half of 2022 to a market with lower, more stabilized rates, there’s optimism spreading across the industry that buyers will come back. Just two weeks into 2023, Guaranteed Rate‘s top LO and managing director Ben Cohen has also seen an increase in inbound calls from buyers wanting pre-approval for mortgages.
While a lack of inventory still remains an issue, Cohen expects first-time buyers to come back to the market now that they’ve become more realistic with mortgage rates and rents soaring.
“I think you’re going to see a details ⇒
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