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The biggest mortgage industry trends of 2019 that will carry into 2020

January 10, 2020 / BRENA NATH

The last 365 days proved that as much as the industry tries to predict the real estate market, nothing beats proactively preparing for any type of lending environment. The best example of this was also one of the biggest mortgage industry trends of 2019: the drop in interest rates. By the end of 2018, there was an overwhelming amount of negative housing data points that didn’t bode well for a strong start to last year. A majority of the forecasts for 2019 predicted that interest rates would rise, causing would-be buyers to continue renting, along with rising home prices and tight inventory making affordability sound impossible. The reversal of these predictions spawned a refi boom, and when the top industry voices were asked to share which trends not only took the industry by storm last year but were expected to carry into 2020, the trend that was on the forefront of everyone’s mind was the year’s record-low interest rates, averaging around 3.9% in 2019 according to Freddie Mac.