What’s the best way to stay up to date on mortgage industry news? This guide covers everything from analyzing source reliability to understanding predictions so you can make well-informed decisions about your financial future.

Want to Get Reliable Information? Start at the Source

When it comes to major financial decisions, it’s essential to arm yourself with facts and knowledge so you can feel confident in your final choice. Working from facts also gives you the opportunity to discover new techniques and strategies to improve your personal finances. This is as true for getting a mortgage as it is for selecting a retirement account or buying a new car. 

One good thing about mortgages is that there’s a lot of financial reporting in this area, so there’s plentiful information to take in. However, this can be a bit of a double-edged sword—not all information is created equal, and you’ll want to make sure the information you’re getting is complete and reliable before using it to inform big decisions. The volume and complexity of this information can also be difficult to take in if you aren’t well versed in financial topics.

One great way to make sure you’re getting good information is to read multiple reputable news sources and see if their reporting on an event gives you similar information. The information you see repeated across different news outlets is likely to be true. Simply seeing information repeated isn’t necessarily a sign that you’re getting accurate facts, though. Internet rumor mills can cause incorrect information to become widespread. 

Whether you’re looking at reputable news outlets or a friend’s Facebook post, it’s a good idea to verify what you’ve read. The best way to verify facts and rumors is to go directly to the source. If a news outlet reports that the Federal Housing Administration (FHA) or Federal Reserve has made a specific announcement or change, you can visit those sources directly and verify your understanding.

Where can you find that information? Journalists tend to get their information from press releases, and you’ll be able to find those original releases so you can read them for yourself. They’re generally easily accessible online. For example, the FHA and the Federal Reserve both make press releases available to the public on their websites. Online news articles will often link to these original press releases as well. 

Predict the Future or Stay in the Present?

Press releases are good sources of information because they are strictly fact-based. They usually don’t include opinion statements, which is useful in a financial context. However, that does mean that it can be difficult for novices to interpret the impact of the information presented in the release. That’s where mortgage industry news forecasts and predictions can become useful.

One thing to keep in mind about mortgage news is that it’s impossible to accurately predict the future before it happens. Experts will often make educated guesses about what’s going to happen in the future. The problem with these predictions is that, no matter how much of an expert someone is, they can be wrong about what’s going to happen. 

For example, in January of 2020, experts were predicting a good year for the housing market, with mortgage rates holding fairly steady. Then, just a few weeks later, the COVID-19 crisis hit and completely upended any financial predictions for the year. No one could have seen that event coming—it was an unprecedented situation that had an immediate and drastic impact on the economy as a whole, including the housing market. 

Though sudden, destabilizing events such as the COVID-19 crisis are ultimately quite unusual, this situation is a great lesson in the importance of paying more attention to facts than opinions. Predictions are opinions, and while that is a type of information you can use in beneficial ways, it’s best to weigh that information differently than you do a verifiable fact.

You’ll also want to make sure the facts you’re working with are also up-to-date; check the date and even the time the article you’re reading was published. The economy can move quickly sometimes, and what was true one day can be different from the next. Look out for any correction or update notices on the articles you read; some publications will post updates in their articles, while others will issue corrections at the bottom of an article. 

The Value of a Trusted Mortgage Advisor in Uncertain Times

Of course, predictions can be useful information in some ways, and it isn’t always easy for novices to interpret the complex financial language used to discuss the mortgage industry. The sheer volume of information can be a lot to take in while you’re considering a move or refinance. That’s why it’s so important to develop a relationship with your mortgage lender. 

Having the convenience of pressing a button and getting a mortgage sounds nice in theory, but that button can’t answer your questions. It won’t help you understand current events. Ultimately, you shouldn’t feel solely responsible for interpreting the complex workings of a very specific sector of the economy. With a local lender at your side, and a team of dedicated mortgage professionals who are just a phone call, text or email away, you’ll have a helpful partner who can answer questions for you and help you interpret the news. 

If you’re considering a new home purchase or a refinance of your existing mortgage, take a look at some recent mortgage-industry news. Read a couple of articles and develop some questions. When you’re considering which mortgage lender to work with, bring those questions to the table. The answers you get will reveal a lot about the level of service and assistance you can expect from your lender.

Have questions about what you’ve been reading about mortgages? Get in touch with your local Directors Mortgage branch office to start a conversation.

This image has an empty alt attribute; its file name is rollercoaster-1024×767.jpg What’s the best way to stay up to date on mortgage industry news? This guide covers everything from analyzing source reliability to understanding predictions so you can make well-informed decisions about your financial future. This image has an empty alt attribute; its file name is news-1024×683.jpg Want to Get Reliable Information? Start at the Source When it comes to major financial decisions, it’s essential to arm yourself with facts and knowledge so you can feel confident in your final choice. Working from facts also gives you the opportunity to discover new techniques and strategies to improve your personal finances. This is as true for getting a mortgage as it is for selecting a retirement account or buying a new car. One good thing about mortgages is that there’s a lot of financial reporting in this area, so there’s plentiful information to take in. However, this can be a bit of a double-edged sword—not all information is created equal, and you’ll want to make sure the information you’re getting is complete and reliable before using it to inform big decisions. The volume and complexity of this information can also be difficult to take in if you aren’t well versed in financial topics. One great way to make sure you’re getting good information is to read multiple reputable news sources and see if their reporting on an event gives you similar information. The information you see repeated across different news outlets is likely to be true. Simply seeing information repeated isn’t necessarily a sign that you’re getting accurate facts, though. Internet rumor mills can cause incorrect information to become widespread. Whether you’re looking at reputable news outlets or a friend’s Facebook post, it’s a good idea to verify what you’ve read. The best way to verify facts and rumors is to go directly to the source. If a news outlet reports that the Federal Housing Administration (FHA) or Federal Reserve has made a specific announcement or change, you can visit those sources directly and verify your understanding. Where can you find that information? Journalists tend to get their information from press releases, and you’ll be able to find those original releases so you can read them for yourself. They’re generally easily accessible online. For example, the FHA and the Federal Reserve both make press releases available to the public on their websites. Online news articles will often link to these original press releases as well. This image has an empty alt attribute; its file name is Readingthenews-1024×744.jpg Predict the Future or Stay in the Present? Press releases are good sources of information because they are strictly fact-based. They usually don’t include opinion statements, which is useful in a financial context. However, that does mean that it can be difficult for novices to interpret the impact of the information presented in the release. That’s where mortgage industry news forecasts and predictions can become useful. One thing to keep in mind about mortgage news is that it’s impossible to accurately predict the future before it happens. Experts will often make educated guesses about what’s going to happen in the future. The problem with these predictions is that, no matter how much of an expert someone is, they can be wrong about what’s going to happen. For example, in January of 2020, experts were predicting a good year for the housing market, with mortgage rates holding fairly steady. Then, just a few weeks later, the COVID-19 crisis hit and completely upended any financial predictions for the year. No one could have seen that event coming—it was an unprecedented situation that had an immediate and drastic impact on the economy as a whole, including the housing market. Though sudden, destabilizing events such as the COVID-19 crisis are ultimately quite unusual, this situation is a great lesson in the importance of paying more attention to facts than opinions. Predictions are opinions, and while that is a type of information you can use in beneficial ways, it’s best to weigh that information differently than you do a verifiable fact. You’ll also want to make sure the facts you’re working with are also up-to-date; check the date and even the time the article you’re reading was published. The economy can move quickly sometimes, and what was true one day can be different from the next. Look out for any correction or update notices on the articles you read; some publications will post updates in their articles, while others will issue corrections at the bottom of an article. This image has an empty alt attribute; its file name is marketupsanddowns-1024×683.jpg The Value of a Trusted Mortgage Advisor in Uncertain Times Of course, predictions can be useful information in some ways, and it isn’t always easy for novices to interpret the complex financial language used to discuss the mortgage industry. The sheer volume of information can be a lot to take in while you’re considering a move or refinance. That’s why it’s so important to develop a relationship with your mortgage lender. Having the convenience of pressing a button and getting a mortgage sounds nice in theory, but that button can’t answer your questions. It won’t help you understand current events. Ultimately, you shouldn’t feel solely responsible for interpreting the complex workings of a very specific sector of the economy. With a local lender at your side, and a team of dedicated mortgage professionals who are just a phone call, text or email away, you’ll have a helpful partner who can answer questions for you and help you interpret the news. If you’re considering a new home purchase or a refinance of your existing mortgage, take a look at some recent mortgage-industry news. Read a couple of articles and develop some questions. When you’re considering which mortgage lender to work with, bring those questions to the table. The answers you get will reveal a lot about the level of service and assistance you can expect from your lender. Have questions about what you’ve been reading about mortgages? Get in touch with your local Directors Mortgage branch office to start a conversation.