According to The Oklahoman, the Mortgage Bankers Association President and CEO David Stevens said that the Fed is not the only thing for lenders to watch, and instead, they need to pay close attention to changing demographics.

About 70% of all households, counting renters and homeowners, are non-Hispanic white, he said, but only about a third of future households will be.

Blacks and Hispanics, who are comparatively younger and have more children, are driving the future of housing as whites age and have fewer children, he said.