As we have now entered the new year, all of us in the real estate industry have been preparing for 2024 by setting our goals and implementing our plans to make next year as successful as possible. The last couple of years have been some trying times for all of us in the real estate market, however, last month there was some exciting developments for us here at Thrive Mortgage, as well as, in the mortgage industry nationwide, that will help propel us here in 2024!
On December 14th, it was announced that Thrive Mortgage has entered into a merger agreement with Columbus, Ohio based Lower.com! Anytime a change occurs with your employer, there can be some fear or nervousness that comes to mind. However, after meeting our partners at Lower.com, we are extremely excited about the future of Thrive Mortgage and what this merger will offer our borrowers and our real estate partners! Here are a few highlights that we want to make sure to get out to everyone:
- We will not be changing our name or brand, so Thrive Mortgage lives on!
- Nothing will be changing with our local team here in Southwest Ohio for Thrive Mortgage. Our sales and operations teams are still here to offer the same great service that we have always offered!
- Through this merger with Lower.com, there are additional programs and products that we will now have access to. Allowing us to provide additional options for our homebuyers.
- Our corporate offices will relocate from Georgetown, Texas to the Lower.com headquarters in Columbus, Ohio, which is a nice perk for all of us Buckeyes!
- The Major League Soccer team, the Columbus Crew, plays in Lower.com Stadium in Columbus for all the soccer fans out there.
As all of us learn more about the new programs and products we will have to offer, we look forward to communicating those exciting new opportunities to you! Below is the press release from December 14th, 2023, if you would like to take a look:
https://www.housingwire.com/articles/thrive-mortgage-and-lower-strike-merger-deal/
Big news from the Fed
The Federal Open Market Committee held their monthly meeting in December, and finally delivered some news that Lower Interest rates are coming in 2024! With the signs of inflation slowing, the Fed is now looking at easing some of their monetary policies and discussing interest rate cuts in 2024. While none of us know when these cuts will take place exactly, this news was welcomed news in the mortgage bond markets and continued to push interest rates in the downward direction! Over the next few months, the inflation reports that come out, as well as, jobs numbers that are reported, will be an important measuring stick to how quickly these interest rate cuts take place! Let all of those sidelined buyers know, 2024 is going to be a great year to get back into the game!
