With a new year, we expect to see new trends arise in the mortgage industry. New trends can sometimes be confusing or scary as we don’t know how they might affect us, our houses, or our businesses. We are here to provide a brief overview of the top 3 trends we are seeing to keep you as up todate on the industry as possible!

High Interest Rates

The economy has seen a spike in expenses over the past few years, and with that came an upslope of interest rates. Mortgage interest rates play a significant role in the housing market, and a rise in interest rates may slow down mortgage demand, while lower rates could stimulate it. They are currently the highest they have ever been in 22 years, but we may start to see a drop into Q2 of 2024. Borrowers and prospective homebuyers should always stay informed about prevailing interest rate trends and consider consulting with financial professionals to make informed decisions based on their individual circumstances.

Technology + Digitalization

As we know technology plays a large role in most things nowadays, and the mortgage industry has been undergoing digital transformation. With increases of what can be done online and in person, companies are figuring out how to combine this face to face/digital world when it comes to mortgage. The future may see increased use of technology, including online mortgage applications and digital verification processes. These options can lead to an increased security function when it leads to dealing with obtaining a mortgage. Blockchain, a distributed ledger technology, offers potential applications in the mortgage industry for secure and transparent transactions. It can be used for property title verification, smart contracts, and secure data sharing among stakeholders, enhancing trust and reducing fraud in mortgage transactions.

Economic/Demographic Conditions

Economic factors such as employment rates, inflation, and GDP growth can impact individuals’ ability to afford homes and qualify for mortgages. We are seeing a shift in the groups of people buying homes, and the types of homes being bought. Millennial and Gen Z are starting to have their own families and enter the workforce, spiking interest in homes, specifically single-person households and multi-generational living arrangements. On the flip side, we have other generations looking to downsize or retire which brings in moving to retirement communities, out of suburban settings, and possibly access home equity for various financial needs. This can influence the types of mortgage products available, such as reverse mortgages.


Home buying should be a journey of joy and fulfillment, not one overshadowed by complexity and stress. At Three Rivers Lending, our approach to simplifying the mortgage process ensures that you can focus on the excitement of owning a new home, while we handle the intricacies of mortgage financing. With our personalized, client-focused approach, comprehensive services, streamlined processes, transparent communication, educational support, and local expertise, we are committed to making your dream of homeownership a stress-free reality. Don’t hesitate to reach out via phoneemailor a submit an online form to begin your journey toward homeownership.