Fannie Mae predicted that mortgage rates would remain relatively low throughout 2020. Specifically, they forecast that 30-year fixed mortgage rates will stay near 3.7% – lower than last year’s average rate of 3.9%. Now is a great time to make sure you and your team are ready to help home buying and refi applicants looking to take advantage of these low rates.
You can start by working with borrowers who have the potential to improve their credit picture – whether their current score is too low to qualify, or an increase could get them more attractive terms. This can help you stave off competitors and turn more leads into loans. And chances are your delighted clients will send even more folks your way.
Figure out what processes work best for you, your team and your clients. Our tools can help you create a personalized credit improvement plan for your borrowers. To give you a hand, this month we included a useful guide for when to use two of our most popular products. Enjoy!