Understanding the Mortgage Market in 2022: Trends Mortgage Professionals Should Watch Out For

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February 23, 2022 | By RGR Marketing Blog

Mortgage Market Trends in 2022: Professionals, Get Ready

After two years of dealing with a pandemic, Americans are reevaluating their home needs and it is having quite a dramatic effect on the housing market. After a decade of families looking to downsize, there’s a shift that now sees families looking to buy larger homes, an abrupt about face that was no doubt spurred by the need for infected family members to self-isolate in the most convenient and comfortable way possible.

The desire for more living space will surely be one of the hottest trends mortgage professionals need to pay close attention to in 2022, but it isn’t the only trend worth watching. Here are five more trends that you can expect to impact your mortgage company this year.

#1: Mortgage Rates Will Likely Rise

Over the last few years, the American economy has been a rollercoaster and its effect on the housing market hasn’t gone unnoticed. In 2020, mortgage rates plunged and in January 2021, they hit an all-time low. But with inflation and consumer spending on the rise, all signs are pointing to rising rates in 2022. In fact, The Mortgage Bankers Association is predicting that the average rate on a 30-year loan could reach as high as 4 percent or slightly higher by the end of the year.

#2: Home Values Will Likely Drop (But Slowly)

The housing craze that was spurred by record-low interest rates over the last couple of years fueled demand that caused home values to skyrocket. But now that things are cooling down, home values should start coming back down to Earth. This couldn’t happen at a better time, because this will help buyers avoid costly bidding wars and prevent Americans from having to deal with the potential problems that come with their home values outpacing their pay raises.

#3: Home Prices Will Continue to Rise (But Not as Dramatically)

In 2022, there will most likely be an affordability issue in the housing market that is fueled by risking interest rates and home prices. While most experts aren’t expecting home prices to rise as dramatically as they have over the last couple of years, they also aren’t expecting them to fall anytime soon. This could lead to a larger percentage of mortgage prospects being forced out of the market.

#4: Cash-Out Refinances Will Be Popular in 2022

Thanks to home values rising so much over the last couple of years, a lot of homeowners suddenly have a lot of extra equity. But instead of selling their homes, which would force them to buy another equally over-priced home, homeowners will take advantage of their robust equity and use it to improve their current homes. So, we’re expecting cash-out refinances to be one of your most promising mortgage products this year.

#5: Hispanics Will Become a Dominant Buying Group

According to a study conducted by the Urban Institute, Hispanics will become one of the largest groups of first-time homebuyers in the United States, making up as much as 70 percent of new homebuyers by 2040. And their growing presence will start being felt as early as this year. So, if your mortgage company doesn’t currently employ bi-lingual agents, then you will want to change that or risk missing out on a significant number of sales in the coming months and years.

RGR Marketing Has Mortgage Leads That Can Benefit Your Business Today

There’s one thing that any mortgage company needs if it wants to grow at a steady pace – quality mortgage leads. At RGR Marketing, we provide mortgage professionals with high-quality leads that have been scrubbed and verified for accuracy. Our mortgage leads integrate seamlessly into just about any lead management system, making them easy for your team to organize and manage.

Experience is crucial when you partner with a third-party lead provider. At RGR Marketing, we have more than 20 years of experience serving professionals in the mortgage industry. We provide you with leads you can rely on and dependable customer service that you can trust.

With the above expected trends, there will be no shortage of challenges your business will have to face in 2022 but accessing quality mortgage leads doesn’t have to be one of them. Contact RGR Marketing today and take advantage of our exclusive, highly targeted leads.

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Mortgage Market Trends in 2022: Professionals, Get Ready

#1: Mortgage Rates Will Likely Rise

#2: Home Values Will Likely Drop (But Slowly)

#3: Home Prices Will Continue to Rise (But Not as Dramatically)

#4: Cash-Out Refinances Will Be Popular in 2022

#5: Hispanics Will Become a Dominant Buying Group

RGR Marketing Has Mortgage Leads That Can Benefit Your Business Today

Start making more
money today!

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Mortgage Market Trends in 2022: Professionals, Get Ready

#1: Mortgage Rates Will Likely Rise

#2: Home Values Will Likely Drop (But Slowly)

#3: Home Prices Will Continue to Rise (But Not as Dramatically)

#4: Cash-Out Refinances Will Be Popular in 2022

#5: Hispanics Will Become a Dominant Buying Group

RGR Marketing Has Mortgage Leads That Can Benefit Your Business Today

Start making more money today!

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