#mortgage-market-trends

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New CFPB report looks at reverse mortgage activity in 2023

Top lenders dominate reverse mortgage market, comprising 88.6% of originations according to CFPB's 2023 report.
CFPB data highlights focus is primarily on HECM, while proprietary mortgages are gaining traction.

Assumable mortgage platform Roam partners with national lender on down payment assistance

Roam Boost by Roam and Spring EQ offers second-lien loans for assumable mortgages to assist homebuyers with down payments, catering to credit scores of at least 640.

Mortgage rates hit a six-year high before price war broke out

Irish mortgage rates rose, with the average hitting 4.31%. Eurozone rates varied significantly, with Ireland ranking sixth highest.
Lenders in Ireland are cutting rates and offering incentives to attract customers, potentially due to an expected ECB rate cut.
There has been a slowdown in mortgage switching in Ireland, leading to a drop in the number of mortgages being taken out.

Rates at 7% attract different types of borrowers, forcing lenders to rethink profit strategies

Mortgage rates will remain higher, attracting borrowers facing life events, not economic gamers. Lenders must innovate for profitability.
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