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What’s the future of mortgages? Brokers share their insights

If you’ve been watching the news, chances are you’ve got some concerns about where interest rates are going, especially if you’ve been hoping to buy a house soon. As a bank, we keep a close eye on these trends as well. We also have a full community of trusted brokers who are on the front lines every day, talking to borrowers and getting a pulse on the market. We wanted to know what they were seeing in mortgage trends to learn whether there was a silver lining to all this mortgage news gloom, as well as some actionable tips for anyone hoping to enter the housing market at this time.

The mortgage survey 

We wrote to our broker community, which numbers over ten thousand, and asked them to fill out a brief survey. We asked brokers questions like, “Where do you see interest rates going in Q4 of 2022?” and “Where do you see housing prices going in Q4 of 2022?”

No one has a crystal ball, but most of these brokers are professionals who have seen many up-and-down cycles in their careers, so they have a keen eye for discerning trends. And these are the two to watch: interest rates and home prices.

Interest rates and home prices

If you’ve been watching the news, it won’t surprise you to learn that brokers expect rates to keep going up. The reason is simple: the Fed has been raising interest rates to help cool down inflation. Basically, if it’s harder for people and businesses to borrow money, they’re less likely to buy things, reducing the demand on supply and leading to lower prices. But this doesn’t happen right away. It takes time. The interest rate hikes the Fed has put into place show some signs of starting to curb inflation, but not enough. So it’s likely that they’ll keep raising interest rates, the way our brokers suspect they will. 

This sounds like bad news to many potential home buyers, but it isn’t entirely. Because there’s another half of that equation: home prices. Rising interest rates seem to be starting to have the intended effect and cooling housing prices in many markets. If you’ve been sitting on the sidelines hoping for a time when home prices stop their breakneck rise… now may be that time. 

Non-traditional mortgages

Another area where our brokers see great opportunity is in non-traditional mortgages. Conventional mortgages are approved based on a strict set of guidelines about things like income verification and debt-to-income ratios. A small sliver of banks known as CDFIs (Community Development Financial Institutions) – Quontic is one of only 3% of banks with this designation – can structure loans to take into account other ways to prove the ability to pay back a loan. This is particularly useful for self-employed people, those with irregular income, gig workers, foreign nationals, and other traditionally underserved communities. While those seeking conventional mortgages might be looking to sit out this market, if you think a Lite Doc or other non-traditional mortgage may fit the way your finances are structured, you may want to check out the possibilities. Click here to read more about Quontic’s mortgage options.

Silver linings

While these can seem like scary times in our economy, there are opportunities and silver linings, especially for first-time home buyers and non-traditional borrowers. Take a page from mortgage professionals to see where there may be opportunities for you to reach your financial goals. 


All lending products are subject to approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. This does not represent an offer to enter into a loan agreement. Other requirements, restrictions & limitations apply. Information is accurate as of October 4, 2022 & is subject to change without notice.

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