MORTGAGE BROKERS

oday , volatile market conditions continue to pose a challenge for mortgage brokers . As the market shifts , so do mortgage products , with withdrawals happening in shorter periods and lenders of all sizes playing catch-up to new market conditions .

But it ’ s important to remember , as CEO of Acre Justus Brown notes , “ This is all out of a broker ’ s control ”.

“ It ’ s been challenging for them , and led to many looking internally at their own operations for new ways to add value to clients while also being more efficient ,” he continues .

While it has been a challenge for mortgage brokers , mortgage provider Freddie Mac indicates that conditions may be slightly improved throughout the rest of the year .

Its forecast suggests an increase in both purchase and refinance volumes throughout 2024 and heading into 2025 , while the monetary value of loan originations is also expected to increase as property prices rise alongside an increase in home sales .

This is a good sign for a mortgage industry caught up in the tumult of post-pandemic volatility , but despite the improvement , the market still faces some headwinds .

These include low inventory numbers and persistent tight supplier conditions despite stronger demand from buyers .

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