Unraveling the Impact of Capital Requirement Changes in 2024!

Jan 19, 2024 · 21m 15s
Unraveling the Impact of Capital Requirement Changes in 2024!
Description

We’ve talked about our 2024 predictions, interest rates, buying a home this year, and some huge economic factors that will affect our housing market, but what about mortgage companies in...

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We’ve talked about our 2024 predictions, interest rates, buying a home this year, and some huge economic factors that will affect our housing market, but what about mortgage companies in 2024? The last year has been a tough one for Loan Officers as well as mortgage companies. We have seen mortgage companies struggle and that may continue even as interest rates continue to drop. This year is an election year! People tend to ‘wait’ to see what happens during an election year, but why is this and does it really make a difference? Here is the link to TheResourceTV’s episode on the effect of an election year on interest rates: Election Years & Interest Rates: The Surprising Truth Revealed! 🗳️📈 - YouTube This is great insight! My key point of this episode is that the change in capital rules may radically shift this year’s mortgage industry. Mortgage companies have rules and regulations that they must abide by and during the 2023 market some of these covenants fell to the wayside as companies struggled to stay in business. While interest rates may come down this year resulting in more loans, there will also be a reaction from Fanny and Freddie to tighten up those guidelines. Time will tell this year if the interest rates are enough to increase loan volumes or if these factors will keep the market balanced. Main Take-aways from the podcast:
  • Bidding wars for homes are already here!
  • The interest rate decline will not be a straight line down.
  • How will the election year affect interest rates?
  • Capital requirements may radically shift the mortgage industry this year.
  • As Fannie and Freddie tighten up rules and regulations, it may put the pressure on mortgage companies.
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Author Tony Blodgett
Organization Lend an Ear Media
Website -
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