Felisa Schlosser - Mortgage Broker Q & A

MARKET

How would you describe the current market in one or two sentences, is it a buyer's market, seller's market, or something in between?
In most cases, I think it’s a buyer’s market. There are always exceptions, usually based on location.

What types of buyers are you working with most right now, first-timers, move-up buyers, investors?
Gosh, all of the above!

What's the biggest hesitation you're hearing from buyers who are sitting on the sidelines?
Some buyers are just waiting for inventory, most are not super concerned with what’s happening. Potential sellers seem to be the ones getting cold feet and on the fence about listing right now.

RATES

Where do rates stand right now, and how does that compare to where we were a year ago?
After about 5 straight weeks of worsening rates, they are now improving daily, as of 4-8-26. Most of my buyers are locking in with a Float Down option in case rates improve by 25% or more while in escrow.

Are you seeing more people buy down their rate with points, and is that actually worth it right now?
Yes, this has been common since Q4 2022.

What's your honest take, do you expect rates to drop meaningfully this year, or should buyers stop waiting?
I don’t think they will drop significantly, no. We’re currently sitting well below the 50-year average according to Freddie Mac, and you can always refinance if they do drop significantly.

RENOVATION LOANS & REVERSE MORTGAGES

With home prices where they are, are more buyers turning to renovation loans to make a less-than-perfect home work for them?
YES! And this is a very exciting option.

What types of renovation projects are you seeing financed most right now?
Single-family detached residences for owner-occupied buyers.

Who is the ideal candidate for a reverse mortgage in today's market?
A senior who is 62 years of age or older, who is on a fixed income, or not, who would love to stay in their current home or downsize while eliminating a mortgage payment. They need 50 to 60% down payment or equity and must demonstrate their ability to pay their property taxes, insurance, and HOA.

How has demand for reverse mortgages shifted as home values have gone up?
Yes, because the baby boomers are now approximately 62 to 80 years old, which means we have more potentially qualified reverse mortgage borrowers than ever before.

ADVICE & OUTLOOK

If someone is waiting for the "perfect" time to buy, what do you tell them?
There is no perfect time to buy, and any time is the perfect time to buy, and I first bought in 2004 and still believe this is true. Every year you wait means more appreciation lost, and rent paid, more competition, and higher prices.

What are you watching most closely over the next 90 days that could shift the market?
I am seeing a lot of buyers jump into the market right now, which I find interesting given the uncertainty, but I am seeing more seller credits and concessions than I would normally see this time of year, which means those buyers are getting deals, which is awesome!

If you want, I can also clean up the grammar and make it look more polished for a newsletter or Q&A feature.