Here’s what you need to know about the mortgage industry amid COVID-19.
Today I have a special guest: Monty Kennedy with Movement Mortgage. Over the last couple of months, the mortgage world has completely changed, so Monty is here to give us an inside look into what’s happening. Before the pandemic, mortgage lending was as healthy as it had been in years; rates were outstanding at near historic lows. Then, the first two weeks after the health crisis hit the U.S., qualifications for credit tightened, higher credit scores were required, and larger down payments were mandatory. Everything changed quickly.