United States Mortgage Industry Predictions 2023: What to Expect in the Year Ahead Riding Out the Storm - The Mortgage Industry Prepares to Navigate
Dublin, May 09, 2023 (GLOBE NEWSWIRE) -- The "US 2023 Predictions: What to Expect in the Year Ahead Riding Out the Storm: The Mortgage Industry Prepares to Navigate 2023" report has been added to ResearchAndMarkets.com's offering.
If trends in 2022 have provided any clues about what the mortgage industry could face next year, companies will need to prepare themselves for further volatility and business contraction. While most of the industry started 2022 on a high after a record-setting 18-month period for both origination volumes and home prices, by midyear the industry found itself in a hangover that will take time to get over.
But the mortgage industry is cyclical and the current slowdown is not the first time lenders and banks have faced serious headwinds. A downturn was bound to occur eventually, with many experts characterizing the current decline as a recalibration or right-sizing following a boom period.
The pullback, though, arrived swifter than anyone predicted, but it doesn't mean development and growth in areas such as marketing and technology come to a halt. Within mortgage technology, in particular, spending is likely to rise, as the industry adapts to increased consumer expectations for streamlined digital transactions. Changes in business outlook should also lead to greater focus on affordability initiatives.
Key Topics Covered
About this report
Industry sits under a macroeconomic cloud
Glass half full for mortgage technology
Policy shifts to affordability
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