A&D Market Digest for Week of 3/27/23

Check out the latest changes in the mortgage industry! Alex Suslov, Head of Capital Markets, discusses what will affect your pipeline this week:

• The ramifications of the closure of Silicon Valley
• The recent hikes in interest rates from the Fed
• Answers questions about what happens to borrowers’ mortgages if a bank fails

Next, Wholesale Team Leader Mike Majidian discusses affordable markets in Oregon and Colorado. Watch the inspiring and positive discussion, full of thoughtful and valuable insights from experienced experts!

MARKET NEWS

• NMN— Down payment size down 10% from last year.  “During January, the typical buyer made a $42,375 down payment. It’s the third consecutive month this has shrunk and it marks a 10% decline from the same month in 2022. This is also a drop of 35% from the peak month of June, but it’s 30% above levels prior to the pandemic, Redfin pointed out.”