Well, here we are. Another year has gone by, and we are wondering where it went. Don’t look now, but it is behind you. The year was a year of ups and downs. Interest rates were up. Refinances and home buying were down. Home prices were way higher, then down a bit. Stocks were higher, then way lower – and then started moving higher again.

Does that make you dizzy? It certainly was a roller-coaster type of year. Next year we will try to reverse some of these directions. As a matter of fact, you will see a plethora of forecasts by many prognosticators in this publication over the next several weeks. And the one thing we will guarantee—is that many of these forecasts will be wrong. We just can’t tell you which ones are right.

No one can predict the future. We could not predict the pandemic. We could not predict that the pandemic would lead to a red-hot housing market. We also could not predict that mortgage rates would move up so rapidly. But they did. We also can say that whatever forecast comes true, it will likely happen more quickly than we thought. Because today, life seems to move faster than it used to. Or perhaps we are getting slower. If things do change quickly in 2023—it will likely be another interesting year.

Dave Hershman is the top author in the mortgage industry. Dave has published seven books, as well as hundreds of articles and is the founder of the OriginationPro Marketing System and Mortgage School. Want to send this commentary and other news in a personalized format to your sphere database or on social media?  Sign up for a free trial at  www.OriginationPro.com.

Jessica Starvaggi

OriginationPro/The Hershman Group