Mortgage rates at 3-year high push pending sales down
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BREAKING — Mortgage Professional America reports that mortgage rates have reached a three-year high, with Zillow's September data showing rates climbing to 7.28%. That figure has pushed affordability pressures to a level where more prospective buyers are stepping back from purchase contracts and redirecting their attention toward rentals instead. Pending sales, the forward-looking indicator of housing demand, are now reflecting that retreat.
The shift creates a distinct set of circumstances for investors and self-employed borrowers who still need to move capital. loantrust.ai structures financing around those circumstances rather than around generic consumer pipelines. A licensed mortgage loan originator packages each file personally, with no call center layer, and the firm draws on programs designed for exactly this environment: DSCR loans that qualify on property cash flow rather than personal income, bank-statement programs for borrowers whose tax returns do not capture their capacity, and bridge, fix-and-flip, and new-construction products for investors acquiring or repositioning assets while owner-occupant demand cools.
For the reader watching traditional buyers exit the purchase market, that structure carries practical weight. Rental demand is rising precisely because rates at this level have priced out conventional first-time buyers, which reshapes the arithmetic for investors financing single-family rentals or multifamily acquisitions. loantrust.ai operates directly in that space, with an originator assigned to the file from submission through closing rather than a rotating queue of phone agents.
Source: Mortgage Professional America, “Mortgage rates at 3-year high push pending sales down”. Read the original →
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Hans Michel, Mortgage Loan Originator, NMLS #2857209 · LoanTrust is a dba of RentAssure Inc. · Licensed in Georgia · NMLSConsumerAccess.org · Equal Housing Opportunity. Nothing on this site is a commitment to lend — all loans subject to underwriting and approval. DSCR, fix & flip, bridge, new construction, multifamily, and bank-statement programs are business-purpose loans for investment properties only.