Just when improving economic conditions, better savings, and lower mortgage rates was turning the housing market around, the emergence of Covid 19’s Omicron variant, on the throes of a New Year, has cast a cloud on the possibility of a complete turnaround. The mortgage trends for the New Year will largely be determined by the US government’s ability to contain…
Mortgage Trends
The year 2019 came to a dismal end with the mortgage industry facing rising interest rates and a shortage of affordable housing. As more and more consumers were found looking for housing but not having the means to afford it because of mounting housing prices, the situation only became worse. Growing interest rates also meant that each mortgage loan became…