'You've got to reach high into the tree… and for those of us that are willing to do that, there's enough fruit for everybody'

Spring homebuying season got off to a surprisingly good start as new single-family home sales jumped by 7.4% in March – but stubbornly high mortgage rates and economic uncertainty are expected to weigh against the market’s growth in the months ahead.
That’s yet more familiar news for mortgage professionals who’ve seen a subdued outlook on both the purchase and refinance sides across the US over the past two years thanks in part to a rise in borrowing costs since the COVID-19 pandemic.
But while scores of brokers and loan officers have reportedly left the industry since the pandemic, when rock-bottom rates helped spur a homebuying and refi boom, longstanding originators aren’t viewing that exodus with much alarm.
Greener LOs and brokers who anticipated a years-long stream of record sales numbers might have viewed a dip in homebuying activity with alarm, but Christopher Holmes (pictured right), broker/owner at Scottsdale Mortgage Advisors, told Mortgage Professional America more established brokers aren’t exactly batting an eyelid at a market downturn.
Holmes said those veteran brokers are sticking out the cooler market now and demonstrating once again that they’re in the industry for the right reasons.
Plenty of brokers who cut their teeth during the pandemic, Holmes told MPA, “didn’t do business [the right] way. They weren’t focused on purchase business: they got in when times were good and interest rates were in the high twos, low threes.
“They turned too much to refinances and then rates went up and they’re on to selling something else. And God bless them – but those of us who are in this for the long haul are taking good care of our clients and educating them.”
Brokers, LOs have the edge over market competitors
The Mortgage Bankers Association (MBA) and Fannie Mae both see a jump in overall mortgage origination volume ahead compared with last year, but borrowers are facing a number of hurdles including tighter qualification criteria, continuing economic chaos and labor market uncertainty, as well as difficulties securing a market with conventional lenders.
Those factors mean that loan originators and brokers will continue coming to the fore, Holmes said, when both purchase and refinance market activity inevitably begins to tick upwards again.
Miki Adams of CBC Mortgage Agency highlights rising downpayment costs as a major hurdle for homebuyers, particularly first-timers, and stresses the importance of federal and private programs in overcoming affordability challenges.https://t.co/z3UIhaeTTI
— Mortgage Professional America Magazine (@MPAMagazineUS) April 21, 2025
“One of the ingredients of our secret sauce is the ability to shop the lender that has the best loan program or interest rate discount points for our clients, the ability to close quickly a niche product,” he explained.
That’s a stark contrast to what lenders who offer a sole product or lending solution can bring to the table. “As a mortgage broker, there’s not much I can’t do,” he said. “I can show [clients] all the different lenders, everybody’s interest rates, and give them that confidence that as a mortgage broker, my job is to go find the best interest rate for you and get the best terms on this loan.
“I work for you now. I don’t work for the bank. My job is to work for you and make sure you get the best deal. The clients seem to appreciate that.”
Here’s where buyers are finding opportunity in a turbulent market
What’s more, while the market’s current performance is a far cry from the red-hot activity seen during the pandemic, Holmes said there are still plenty of opportunities at play for buyers determined to push ahead with a purchase.
“We’re seeing more inventory come on the market, which is good,” he said. “As interest rates start to slide down to the low sixes, we’ll see things start to pick up again. We had pretty low inventory the last couple of years with rates as high as they are, people being locked into their homes. We’re seeing people finally resigning themselves to the fact that, ‘This house is too small or too big. We have to move. We’re being relocated. We’re moving in.’
“So it’s an active market left, in my opinion, to the professionals. There’s not a lot of low-hanging fruit. You’ve got to reach high into the tree to pull it off – and for those of us that are willing to do that, there’s enough fruit on the tree for everybody.”
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