What impact did the fluctuating rates have on the mortgage market last year?
About Eric Smart
Ares Mortgage
Credentials & Qualifications
- Mortgage Professional
- Licensed Loan Officer
- NMLS Licensed
- Mortgage Specialist
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Last year, we saw a lot of fluctuation in rates, which I refer to as the ‘year of whiplash’. When rates dipped, there was a slowdown in production as people paused. However, when rates shot up, it created an opportunity for people to get a good deal on their purchase price. It’s important to understand that changes in rates can create opportunities, not just challenges.
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