July Mortgage Marketing Trends

July 10th, 2019 by

DataDale’s July Mortgage Marketing Trends

The first half of 2019 surprised everyone across the country. Mortgage rates fell. That’s the opposite of what the experts had predicted at the beginning of the year. It was welcome news for home buyers, sellers and homeowners. Millions of first-time home buyers can become new homeowners. Millions of owners could benefit from refinancing at these unexpectedly lower rates.

The loan products you sell depend on the latest trends.

Our friends at Nerd Wallet see these as important mortgage trends for July. We look at them in terms of mortgage marketing.

  1. More homes for sale needed
  2. Home prices will keep going up
  3. Mortgage rates will remain low
  4. Affordability continues to be a concern
  5. More people could save by refinancing
  6. New homes get bigger
  7. Attention is on first-time buyers

Mortgage brokers – you need to need to find new clients. And, you need to reach out to them before they simply click on the top line in Google.

First Time Home Buyers

I want to spend a few minutes on the First Time Home Buyers segment. In terms of mortgage marketing trends, I’ve been focusing on that group for the past few years. I’m glad to see that I’m not the only one.

Holden Lewis at Nerd Waller  spoke with Tian Liu. Tian Liu is the chief economist for Genworth Mortgage Insurance. He said that roughly 3 million first-timers delayed buying homes between 2007 and 2015.

Those buyers are “reaching that age when they can no longer delay,” Liu says. “Their housing needs are really catching up with them. It doesn’t feel right to be raising a family in a rental apartment. They want to own their place. So I think those drivers will be very significant for the next few years.”

The share of first-time home buyers averaged 45% over the past few years. There are millions of millennials reaching their 30s in the next few years. They are starting families. They don’t want to raise their children in a rented apartment. That means market forces could cause the first-timer share to increase again in the coming years.

In terms of my July mortgage marketing trends, this group is a force to be reckoned with.