Welcome back one major goal that was a big theme last year and promises to be

equally powerful this year is home ownership whether that's owning

your first home trading up to accommodate a growing family or making some             moves that accommodate the new work from home reality jay myers loan officer           with rock mortgage is here to talk home ownership hey jay thanks for joining us

hi jay hello thank you good morning good morning talk about how did last year         impact housing and home ownership uh well last year was a big year with lots                     of changes you know there was three main things that really affected it

you know the historical patterns were majorly different last year typically the                 spring and summer is the best time to buy that kind of changed because the

pandemic people bought throughout the whole year people working from home      people leaving the major metropolitan areas all that kind of changes changed     everything this year you know secondly the the home rates mortgage rates             obviously failed to uh all-time low and are still there so that that had a big                influence on it and you know third there was just the demand for homes grew

so inventory was already kind of low and because of all those factors

it really dropped to an all new low yeah absolutely now if someone's setting a                   new year's goal regarding home ownership what should they be thinking                       about right now well that's uh that's a great question you know entry uh                      interest rates are so low uh it's a good time to look you know it's kind of like           predicting the stock market nobody knows exactly what the interest rates                           are going to do um you know i can tell you right now that on a 30-year fixed          mortgage rates are trending around the two and a half percent which on a                   typical loan that could be about 30 percent less than payments so you know in 2021 assuming everything stays the way it is which is what we think it will be

uh is that you can just get more house for your payment than you could any

other time in the history yeah how about how the pandemic um is really

affecting um your home ownership resolution are people if people set that             resolution for themselves this year because the rates are so low are we

still going to be able to buy that home of our dreams yeah you know the                 pandemic has changed so much in the in the housing industry you know a lot

of people are kind of expecting a new normal and nobody really knows what

that new normal is but you know for one example is a lot of people are working              from home a lot of companies are going virtual um you know a lot of people                       are starting home businesses so therefore people are looking you know

looking for bigger houses and can get more houses for their money right now so

it's definitely changing a lot of things in the homeowner homeowner business     absolutely now what are some trends that you expect to see this year whether             driven by the pandemic or some other factors well there's two different things we

think you know obviously the the high demand because of those factors

and because of low interest rates and being able to buy more and with that                  comes low inventory there's not as much on the market as there used to be

so you know we expect in 2021 you're going to have a record number of home

buyers you know homeowner home ownership rate should reach about

70 percent uh we haven't seen that in over 15 years wow

wow so it's uh you know a lot of people can get more homes for their money and

they can get you know bigger homes and smaller cities because they need the room

so we think that it's uh it's high demand strong sales and houses aren't going to              stay on the market as small jay what would you say is a good game

plan to make sure that people are able to purchase these homes that's a great

question yeah well you know my advice you know our advice is that you really                 need to understand what you're looking for you need to identify that what your must

haves and where you want to be you need to partner with a realtor that

is an expert and that you communicate with and show what you're looking for

and then find your right mortgage lender get pre-approved and be prepared to                act quickly because properties just don't stay on the market very long right

now so you know people go to our website at www.rockmortgagelending.com

and ask for one of our qualified lenders but the more prepared you can be

the better you're going to be in a market like this yeah absolutely

thank you so much thank you for those tips if you are a homeowner or you're on

a hunt or if you're looking to upgrade definitely reach out to rock

mortgage for all your home by needs yeah they always have great tips great                 expert advice and they are the people to check out for sure yeah for sure