"Housing supply is strong, inventory is strong and affordability is pretty good, Ishbia said, noting that many industry analysts expect originations to rise 10% to 12% next year. I think to myself, why not 20%? Why not 30%? Why not 40%? he added, pointing to opportunities in purchase mortgages, refinancing and home equity lending. Ishbia said the initiatives could make homeownership more affordable by reducing monthly payments."
"People don't care about the term. They care about the payment, he said. Ishbia said that if backed by Fannie Mae and Freddie Mac, a 50-year mortgage could expand access to homeownership and help housing values. Lastly, Ishbia mentioned that homebuyer affordability improved for a fifth consecutive month in October, driven by lower mortgage rates and higher household incomes. People can afford homes they couldn't afford before, he said."
Housing supply is strong, inventory is robust, and affordability is relatively good. Industry analysts expect mortgage originations to rise 10–12% next year, with potential for significantly higher growth driven by purchase mortgages, refinancing, and home equity lending. Proposals for 50-year and portable mortgage options aim to reduce monthly payments and make homeownership more affordable. If backed by Fannie Mae and Freddie Mac, extended-term mortgages could expand access to homeownership and support housing values. Homebuyer affordability improved for a fifth consecutive month in October due to lower mortgage rates and higher household incomes, creating a favorable buying opportunity for prospective buyers.
Read at www.housingwire.com
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