A few weeks ago, we had an opportunity to interview our preferred mortgage brokerage, Shotbolt Mortgage. In fact, we were lucky enough to interview Jack Shotbolt himself. Overall, the real estate market, from a mortgage standpoint, is expected to stay largely the same in 2021 as it was in 2020 which is positive. Specifically, here’s what Jack had to say.

Rates are great!

There’s always a lot of political noise in an election year so you’re hearing a lot of it since it’s the beginning of the year and a new president has taken office. The stock and bond markets don’t like unrest so very early in the year, when the new president was about to take office, we saw a lot of uncertainty in the markets. The new presidency will calm things down. Overall, rates should stay low through 2022. We’ll have a good interest rate environment especially for home buyers. The bond market effects interest rates because they are the retreat from the stock market when it’s too risky for many participants. Bonds, mortgage-backed securities, and treasuries are all in the classification. Janet Yellen, the new United States Secretary of the Treasury shouldn’t make much of a difference in terms of being newly appointed. She’ll want to keep things the same given that the new administration is largely in favor of low interest rates. Not a lot of negative impact expected.

What does that mean?

Purchasers will continue to have more buying power. You’ll be able to buy more home than you previously might have been able to. Consequently, the inventory of home for sale in the real estate market continues to be low however if you’re looking to be a competitive buyer, then you will need the extra buying power that low interest rates will afford you. 2021 will be a strong year in real estate and more so if you are a seller. As a realtor, I’m looking forward to it.

Check out our video with Jack and see for yourself what he has to say. To see available homes in the greater Omaha area, go to https://omahaprioritygroup.com/buying and search for a property. I’m happy to answer any questions. Contact Sallie Elliott at 402-630-5953.