This morning, the Treasury Department announced that it will buy $600 billion in Fannie, Freddie and Ginnie mortgage-backed securities, which is giving a huge lift to mortgage bonds this morning. Rates will be significantly better today, and we will now be in a positive refinance incentive environment.
Wake up and smell the opportunity!
Time to push streamlines (both FHA Streamlines and VA IRRRLs) during this window of opportunity! Educate your clients on the opportunity that just unfolded this morning! While everyone else is asleep at the wheel thinking about their long Thanksgiving vacation, seize this opportunity to make some money for you and your clients! Lock down those loan applications, and lock in the rates while you can!
Who knows how long this will last? Let's strike while the iron is hot!!!