Entretenimiento

 

JQ Group CEO, Jesús Antonio Quintero Yamin, explain us that an obvious question faced in the sector as result of the new mortgage demand could be: How will the mortgage sector manage all the new demand?

 

Mike Fratantoni, head economist at MBA, explained that lenders are looking for more workers, admitting that there is not a professional workforce perfectly well prepared on the streets, so, the action is to hire people that need preparation. The process is gradual, as homebuyers and people asking for refinancing are both facing time lag for loan processing and customer services from loan officers. Projections will get more complicated later on (MBA MArch 12, 2020).

 

Jesús Antonio Quintero Yamin explain us that As it's completely impossible to predict the length of this situation and how it will impact the sector if it extends until the second half of the year, chances are that measures will have to be regularly revised and redefined to adapt to the panorama in real-time”.

 

References:

 

  • https://www.cnbc.com/2020/03/03/fed-cuts-rates-by-half-a-percentage-point-to-combat-coronavirus-slowdown.html

 

  • https://www.redfin.com/blog/coronavirus-housing-market-2020-impact-survey/

 

  • https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html

 

  • https://www.mba.org/2020-press-releases/march/mortgage-applications-increase-in-latest-mba-weekly-survey-mba-doubles-2020-refinance-originations-forecast

 

 

*Article based on a compilation of information and research together with the JQ Group team.

 

 

 

About JQ Group.

 

JQ Group is a Miami-based real estate owner and developer specializing in residential, commercial, and hospitality projects across Southern Florida. As entrepreneurs driven by an innate need to create, build and transform, JQ Group seeks new opportunities with the objective of bringing social value and improvement. Tackling projects with determination, innovation, and perseverance, JQ Group’s global outlook allows their passion for transforming communities to guide each venture. Every project is driven by the positive impact higher standards of living have on future generations.

 

Visit us: http://jqgroup.com/