“Housing supply is strong, inventory is strong and affordability is pretty good,” Ishbia said, noting that many industry analysts expect originations to rise 10% to 12% next year.
“I think to myself, why not 20%? Why not 30%? Why not 40%?” he added, pointing to opportunities in purchase mortgages, refinancing and home equity lending.
Ishbia’s second point offered a glimpse into potential new mortgage products, citing recent proposals from President Donald Trump and Federal Housing Finance Agency (FHFA) Director Bill Pulte for 50-year and portable mortgage options.
Ishbia said the initiatives could make homeownership more affordable by reducing monthly payments.
“People don’t care about the term. They care about the payment,” he said. Ishbia said that if backed by Fannie Mae and Freddie Mac, a 50-year mortgage could expand access to homeownership and help housing values.
Lastly, Ishbia mentioned that homebuyer affordability improved for a fifth consecutive month in October, driven by lower mortgage rates and higher household incomes.
“People can afford homes they couldn’t afford before,” he said. “We are getting better across the board with affordability … so, people on the sidelines, right now is a great opportunity to get off the sidelines. Go buy that house.”
