Here’s what mortgage brokers need to focus on in the current market

That
meant
only
a
short
window
of
opportunity
in
recent
weeks
for
homeowners
hoping
to
refinance.
Top
mortgage
professionals,
Cavanaugh
said,
had
already
anticipated
that,
and
had
kept
clients
alert
and
ready
for
a
phone
call
from
their
broker
or
LO
when
the
time
was
just
right
to
lock
in
a
new
rate.
“We
were
able
to
move
quickly
and
were
able
to
help
people,”
she
said.

US
mortgage
brokers
have
room
to
grow,
and
the
key
is
community.
Hunter
Bolling
of
Grow
Mortgage
highlights
the
value
of
staying
united,
offering
unmatched
support
to
clients
in
a
complex
market.

Read
more
here:

https://t.co/3QnAB3Fdos

—

Mortgage
Professional
America
Magazine
(@MPAMagazineUS)

October
16,
2024

“For
those
same
customers,
if
they
didn’t
act
within
a
day
or
two
of
that
particular
moment
[the
Fed
cut],
those
rates
were
gone.
Now,
will
they
be
back?
Yes
–
I
know
that
they’ll
be
back.
But
will
they
be
back
in
one
sweeping
reduction?
Probably
not.”

Is
another
Fed
cut
on
the
way
before
the
end
of
the
year?

The
Fed’s
oversized
cut
was
its
first
for
nearly
four
years,
and
immediately
sparked
speculation
that
further
reductions
were
on
the
way.
But
last
week’s

surprisingly
strong
labor
market
report,
as
well
as
chair
Jerome
Powell’s
rhetoric
on
the
issue,
have
seen
some
market
watchers
row
back
expectations
of
another
cut
next
month.

Whatever
the
case,
there’s
plenty
of
reason
for
optimism
as
mortgage
professionals
look
ahead,
according
to
Cavanaugh.
“My
belief
is
that
we’ll
see
a
couple
more
reductions,”
she
said.
“I
don’t
know
if
we’ll
see
one
before
the
end
of
the
year.
I
hope
we
will…
but
I
do
believe
that
2025
will
be
a
year
of
successive
rate
decreases
in
small
increments,
which
can
make
a
lot
of
sense
for
a
lot
of
customers
if
they’re
aligned
with
their
loan
officer
and
are
kind
of
watching
to
strike
when
the
iron
is
hottest.

“So
I
think
it’s
going
to
be
a
great
year.
I
think
that
we’re
coming
to
the
end
of
this
really
long
cycle
and
I
think
now
is
the
time
for
everybody
to
double
down
on
efforts
and
make
sure
that
they’re
in
preparation
mode.”