MortgageRight Says 5% Rise In Interest Rates Is Good News For Its Net Branches
September 26, 2022 at 16:24
In recent months, mortgage rates have climbed by 5% once again, after they dipped slightly in the months prior. While the mortgage industry remains volatile, there are signs that the housing market at large is stabilizing. Regardless, MortgageRight says that this volatility is good news for its net branches.
New York City, NY – In the mortgage industry, volatility is considered a naughty word. It often means that net branch managers struggle to bring new clients onboard. The clients that do decide to get a mortgage may probably do a lot of shopping around before deciding to go with a particular lender. According to Mortgage Right, “this is good news because we offer the most competitive rates without causing our net branch owners to take a financial hit.”
It was recently reported that the 30-year fixed-rate mortgage had averaged around 5.22% in the week leading up to the 15th of August. This is up from 4.99% the prior week, based on data from Freddie Mac. It is significantly higher than it was at the same time last year, at which point it was 2.8% on average. Since then, rates have risen sharply, hitting 5.81% in June. But concerns about the recent economic crisis and the Federal Reserve’s measures to beat inflation have made the market more volatile. Regardless, some mortgage lenders like MortageRight will continue to perform well because of their unconventional approach to lending.
MortgageRight has said that with the right approach, its net branch managers can help bring in more clients by assisting them in saving money. Readers can learn more about this by visiting MortgageRight’s official website at: https://branchright.com.
“At MortgageRight, we work with our net branches to deliver the best rates and help those seeking a mortgage. We aim to ensure that our branch managers and their clients make money. However, that’s only possible if people are coming into the door, and our highly competitive rates and reputation make that happen.” Said one of the representatives for MortgageRight.
She added, “Despite higher interest rates and inflation, our rates continue to be the most competitive without cutting into the profits of our net branch owners and their employees.”
MortgageRight is one of the top 100 mortgage lenders in the US. The company works with its net branches, which take advantage of an innovative, and highly successful model that promises higher profits and better rates.
For more information about MortgageRight, contact the company here:
1 Perimeter Park South
Suite 230 South
Birmingham, AL 35243