What are the current trends in Oregon's mortgage market?

@hermina 

1. Low mortgage rates: The overall trend in Oregon's mortgage market is the continuation of low mortgage rates, making it an attractive time for buyers to take out a mortgage.
2. Increasing home prices: Home prices in Oregon have been steadily increasing, making it more challenging for potential buyers to afford a home. This trend has led to a competitive housing market in the state.
3. Limited housing inventory: There is a limited supply of homes on the market in Oregon, leading to increased competition a**** buyers and driving up home prices.
4. Refinancing activity: With low mortgage rates, many homeowners in Oregon are taking advantage of refinancing opportunities to lower their monthly payments or tap into their home equity.
5. Increased demand for second homes: The pandemic has led to an increased interest in second homes or vacation properties in Oregon, particularly in rural or coastal areas.
6. Use of digital mortgage tools: Mortgage lenders in Oregon are increasingly offering digital tools and technologies to streamline the mortgage application and approval process, making it quicker and more convenient for buyers.