Mortgage broker - has anyone worked as a commissioned broker? How was your first year? Good move?

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Now is NOT the time to become a mortgage broker.

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High interest rates, incredibly low inventory, no activity in refinancing, and increased requirements on underwriting.

Look up the stats on how many mortgage brokers quit in the last 2 years, or how many did 5 or fewer deals last year. Also look at how many existing mortgages have rates under 4%. And compare the fed interest rate curve to actual mortgage rates (IE there were 2 rate cuts late in 2024, and residential mortgage rates actually went up since then).

This is the most inverted mortgage demand curve possibly in history.

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