The spring buying season is underway, and the historically cold weather in Southern California has surprisingly not dampened the enthusiasm of people checking out open houses or seeking to get into a contract. Other parts of the country are experiencing a 15% reduction in home prices, the best percentage in the last five years. This trend varies by region, with some markets like Portland, San Francisco, and Miami seeing year-over-year price decreases. Could this be an opportunity for savvy buyers?

Prime borrowers who have better credit scores are able to get the best rates possible, but current high mortgage rates are continuing to pose a challenge for other potential homebuyers, with millennials and the younger generations finding themselves priced out of the market. Borrowers in those age groups often have lower credit scores and are seen as greater risks, so finding the right professional to suit their individualized financial situation is crucial. Could FHA and alternative loan options be the answer to help them get into a home?

Are the higher interest rates going to be the new norm? According to some economists, including JPMorgan’s Jamie Dimon and NAR’s El Arian, the answer might be yes. The strong performance of the overall economy suggests that high interest rates could persist for some time. Job numbers are strong and wage increases are outpacing inflation even though mortgage rates are high, which points to an optimistic economic outlook. Will the Federal Reserve take this as a sign to lower rates or will they remain elevated in the coming months? How will this impact buying decisions? This week’s guests include:

– Tony Masci (Hometown Equity) introduces innovative loan products, including standalone second mortgages and no-income investment property loans.

– Charles Giscombe(United Security Financial) delves into non-QM loans as an alternative to traditional mortgages.