PDX Real Estate 146: How Rising Mortgage Rates Impact REALTORS—with Tammy Wittren

Mortgage interest rates are the highest they’ve been in 20 years.
And as a result, mortgage applications are down by 38% and refis
have dropped a whopping 86%.


So, when will rates start to come back down? What can lenders and
real estate agents do to adapt to the current circumstances?


Guest Cohost Tammy Wittren is Branch Manager at NFM Lending. With
more than 30 years of real estate and lending experience, Tammy
separates herself from the competition by building a team of
professionals who share her commitment to serve others.


On this Best of Masters episode, Tammy joins Joe Fustolo and
Steve Nassar to explain why mortgage rates have risen beyond 7%
and where industry experts say rates will be in 2023.


They discuss some of the top posts from the Masters Facebook
group, offering insight around business taxes in Multnomah
County, professionalism in showings, and the changes to Oregon
real estate forms.


Listen in to understand why the value of a good REALTOR
grows in a market decline and learn how to master your craft and
make your numbers work in a cooling market.
Key Takeaways

What global factors contributed to mortgage rates rising beyond
7%


Tammy’s insight on what the experts say mortgage rates might be
like in 2023


How layoffs in the mortgage industry are likely to trickle down
into real estate


Tammy’s argument that buying a home is still a solid investment


Why comps that go back farther than a month are no longer
accurate


What’s behind the increase in buyer terminations


The taxes business owners must pay in Portland/Multnomah County


The protocol for professionalism around showing appointments and
notifying agents when an offer is rejected


How Oregon real estate forms are changing and why it’s a problem


Tammy’s warning around sending repair addendums to a lender


The benefit of leaving a search on after a client goes with
another REALTOR


Why the value of agents diminishes in a booming market (and vice
versa)
Connect with Tammy

NFM Lending


Tammy on LinkedIn
Connect with Joe

Soldera Properties


Joe on LinkedIn
Connect with Steve

Steve’s Team at Premiere Property Group


Steve on LinkedIn
Resources

Masters in Real Estate Facebook Group


‘30-Year Fixed Rate Mortgage Hits the Highest Level in 20 Years’
on CNBC


Mortgage News Daily


Chinese ‘Ghost Cities’ on 60 Minutes


NFM Interview with Mike Fratantoni