Milford, CT (PRWEB) January 12, 2011
Total Mortgage Services, LLC, a leading national mortgage lender featuring some of the lowest mortgage rates available, today highlighted five key trends likely to impact the mortgage industry and housing market in 2011.
The mortgage and housing markets continue to be impacted by the housing crisis, which has fundamentally and permanently altered these businesses, commented John Walsh, President of Total Mortgage Services. In 2011, we expect the mortgage and housing markets to continue to undergo rapid changes. However, those who are able to rise to these challenges and opportunities will be able to survive and prosper in the new year.
2011 Mortgage Industry Trends
Quality mortgage brokers will survive and remain relevant: Mortgage brokers, who are committed to extensive product knowledge, ethical behavior, and the highest levels of customer service, provide significant value to borrowers throughout the mortgage process. Without the mortgage broker, competition amongst lenders will diminish. Mortgage brokers have the ability to shop for the best rates and products at a variety of mortgage lenders. This allows individual borrowers to obtain access to a wide array of products and rates. It also creates competition between lenders that benefits borrowers through lower rates and better products. The many benefits that brokers provide to borrowers help to ensure their continued relevance in the competitive mortgage industry.