Thompson Kane Mortgage Update


Is the wild ride we’ve all experienced in recent years finally over…?!?  2024 is certainly proving to bring its own set of challenges.  Interest rates have risen, fallen and risen again since my last market update and the buying frenzy has somewhat subsided… BUT, inflation data while improved, remains higher than desired, home values remain strong and multiple competing offers are still common at nearly all price points.  

So, what does the future look like for the remainder of 2024 and beyond?  Here are a few things to consider when discussing market affordability and positioning buyers for the best chance of getting an offer accepted. 

  1. Buy now… Timing a market for lower interest rates or declining home values is a risky proposition. With aggressive growth rates projected to continue for both population and jobs in the Madison area, today’s home value will most likely be more expensive “tomorrow” than it is “today”. 
  1. Consult a local lender… Local mortgage lenders have a reputation to uphold and can provide clients the availability, flexibility, and creativity needed for each unique situation. Further, “shopping local” and supporting area business benefits our community & our local economy alike. 
  1. Review ALL the details… Closing costs matter! Different lenders charge different fees.  Uninformed buyers typically pay unnecessary fees, which add to their financial burden at closing.  Don’t let your buying clients settle with a perceived path of least resistance.
  1. Consider a lender that offers a “Cash Program”… A cash offer sets your client apart from the competition and dramatically increases the success rate on gaining an accepted offer and makes their offer to purchase “free” of any financing and/or appraisal contingencies. Seller’s love “clean” offers!

So, what’s the bottom line…

We’re here locally to help navigate the home mortgage process – and since offers and preapprovals go hand-in-hand – we work when you work, including evenings and weekends!  Whether it’s a single-family home or condo, a new construction project or an existing home, a second home or investment property, Thompson Kane and Company is ready to assist you and your clients with the traditional loan process or the TK Cash Program.  I look forward to connecting soon!

Best wishes for a safe and prosperous rest of 2024!

Tom Hotter
Mortgage Loan Officer
NMLS# 1840776

Thompson Kane & Company, Inc. 8040 Excelsior Drive 100, Madison, WI 53717 NMLS 898428 800-228-9270. Copyright 2017 All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information rates and programs are subject to change without prior notice. All products are subject to credit and property appraisal. Not all products are available in all states for all loan amounts. Other restrictions and limitations apply. Wisconsin NMLS 898428, CO NMLS 162211, AL 22550, Il MB 6761287, MS 898428, TN 898428, SD 05206, NE 13970, MO 1599427