Last week we talked about differences with a change of administrations. We all agree that the challenges facing our nation – the economy, the pandemic, the divisiveness are not going to go away. But there are other areas where there will be no difference and these areas are positive. As a matter of fact, these are also two areas that will help the country dig out of the pandemic-induced economic malaise.

For one, the Federal Reserve Board will continue to maintain an accommodative monetary policy for as long as we need it. In layman’s terms that means that they will do whatever it takes to keep interest rates low for whatever amount of time is necessary. And let’s not forget that the new Treasury Secretary was formerly the Chair of the Federal Reserve. Janet Yellen is likely to fully support this policy.

Another area of positive news is the strength of the real estate market. A shortage of listings has caused a major up-tick in real estate prices. We know from history that prices can’t keep going up at this pace forever. But these higher prices put equity in homeowners’ pockets. And when the foreclosure moratorium is over, owners are not likely to be abandoning homes like they did after the Great Recession. What will many do? Some will renegotiate or modify their mortgages. Others will sell and retain the equity. As a matter of fact, the end of the moratorium may ease the listing shortage and while home prices may not drop, the rapid escalation in prices is likely to ease.

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