Current Mortgage Market Trends

Jack, a representative from Rocket Mortgage, discussed the current state of the mortgage and real estate market with Kathy. He provided historical context on interest rates, noting that while rates are higher than during the COVID-19 pandemic, they are still relatively low compared to historical averages. Jack explained that rates are trending downwards and predicted further rate cuts in the coming months. He also mentioned that inventory is recovering, up 33% year-over-year, although more inventory is still needed. The discussion aimed to provide education and context for transacting with confidence in the current market.

Real Estate Market Trends Overview

Jack discussed the current real estate market, noting that there are more sellers than buyers, which reduces competition and gives buyers more negotiating power. He highlighted regional differences, with the South and West experiencing a surplus of supply and the Midwest and Northeast still being competitive. Jack emphasized the importance of consulting with a Relocation Today agent and Rocket Mortgage loan officer to understand market conditions and affordability. He also presented a graph showing how interest rates affect mortgage payments and encouraged using online tools and educational resources to make informed decisions.

Homeownership Benefits and Trends

Jack discussed the changing landscape of home buying, emphasizing that down payments are now often lower than the traditional 20% and highlighting the financial benefits of homeownership compared to renting. He explained that while rent prices have increased by over 30% since 2020, home equity can grow significantly over time, offering a path to long-term wealth creation. Jack also shared a statistic showing a 40-fold difference in net worth between homeowner and renter households, and concluded by introducing Rocket Mortgage's programs tailored to individual client needs.

Rocket Mortgage Credit Building Programs

Jack presented Rocket Mortgage's programs, including low down payment options and a credit improvement service. He highlighted a new program called Rent Rewards that helps renters build credit for future home purchases. Jack also discussed a partnership with Relocation Today that offers a 1% lender credit on loans, up to $10,000. Kathy emphasized Rocket Mortgage's innovative programs and encouraged potential buyers to explore their options. She addressed common hesitations about buying a home, including financial concerns, the complexity of the process, and emotional factors.

Relocation Cashback Program Overview

Kathy from Relocation Today presented a program offering up to $12,000 in total cashback ($10,000 from Rocket Mortgage and $2,000 from Relocation Today) to eligible participants, including employees of partners, friends, and family. The program includes connecting participants with a hand-picked agent and a lender offering competitive loans and reduced processing fees. Participants can qualify for the full $2,000 cashback by working with Relocation Today's agent on either a home sale or purchase, with the potential to earn $4,000 for both selling and buying a home. The program is available in most states for most property types, with alternative savings options available in non-eligible states.