Source: MPA—
Short of having a crystal ball, it’s difficult to predict the future. Indulging Mortgage Professional America with insight, a top executive at United Wholesale Mortgage took a shot at it.
During a telephone interview with MPA, the company’s chief strategy officer, Alex Elezaj (pictured), looked into the future – envisioning what various dynamics of the housing industry might look like in 2023.
The purchase market will remain strong
Unless borrowers plan to flip a house, Elezaj said next year will remain a great time to buy. “These higher interest rates, at some point they’re going to come down whether that’s 12 months or 24 months from now,” he said. “But people are looking at it like: ‘hey, what are all my options?’”
He pointed to UWM’s business model as one ensuring future success: ”That’s why our business model working with individual mortgage brokers – you’re going to get all the different varieties of products and services because individual brokers are working with multiple lenders. It’s really important for people to understand the products and services that are out there for them. We have buydown products to buy down the rate for the first couple of years of their loan. There’s first time homebuyers’ credits; there’s affordability credits.
