An absolutely invaluable resource to us at January Financial is the daily emails we get from Barry Habib at the Mortgage Market Guide. If any brokers or loan officers out there are reading this, we highly recommend this resource!
Barry analyzes the market through various technical indicators and economic reports, helping his clients track the market to determine, in turn, what is best for their clients. He explains the market in an easily understandable way, and injects just enough humor for us to know he's human.
The thing we appreciate about Barry is that he helps us to set ourselves apart from a lot of the quick-and-dirty loan officers out there. Many mortgage professionals don't know that mortgage rates are actually unrelated to whatever the Fed is doing, but actually depend on mortgage bonds. Based on this, Barry tracks the bond market and gives his opinion on where rates are going short-term.
Remember from Econ 101 that when bond prices fall, interest rates rise. Unfortunately, bond prices have been falling lately, and falling fast. So, we're preparing as best as we can for some pricing shifts to higher rates.
There's no easy way to tell our customers that interest rates are going to be rising, but at least having a good explanation of why it's happening helps to ease the pain a little. Hopefully, once they see how knowledgable we are on the market compared to other professionals they're shopping with, they'll decide that we're the ones who deserve their business.
Cyara Pott - Market Specialist
Comments (2)Subscribe to CommentsComment