Inflation and the Homebuying Industry | How Industry Professionals Can Succeed Amid Rising Mortgage Rates

HOUSTON, May 4, 2022 /PRNewswire/ -- While the homebuying boom of the past two years may be behind us, industry professionals need not fret yet. In the short term, buyers impatient to make a move will be eager to lock in current rates before they climb any higher. Now is the time to reach out to current clients and present them their best options for buying a home now.

After this initial surge, we can anticipate a lull in buyer interest. While this may mean fewer clients rushing through the door, it should also give industry professionals the breathing room to get back to the basics of business. Namely, this is a time to focus on building and strengthening relationships—both with clients and other industry professionals.

Without low interest rates ushering clients through the door in droves, relationships are once again going to be the cornerstone of this business. Keeping in touch with your professional network and referral partners will help you stay apprised of their concerns and needs so you can adapt your services accordingly. Additionally, frequent contact will keep you top of mind for new business referrals, especially if you are regularly adding value to members of your network. Providing updates on your areas of expertise via email or newsletter, or simply being available to answer a quick question are both excellent ways to help fellow professionals while also demonstrating the value you add to their network.

Likewise, regular contact with past and current clients is key during a market downshift. Stay informed of market fluctuations like mortgage rates, home prices, and housing availability so you can reach out to your clients when any of those factors shift in their favor. As inflation shifts the landscape, it's also wise to be aware of how increased mortgage rates and/or home prices will impact buyer loan eligibility, which can be based on variables such as debt-to-income ratio.

Read more: https://myamcap.com/how-inflation-impacts-mortgage-business/

Sources: AAA |CBS News | CNBC | FreddieMac PMMS® |Fortune | Investopedia | TechTarget | The Mortgage Reports | The New York Times | Trading Economics | U.S. Bureau of Labor Statistics | USA Today

SOURCE AmCap Home Loans