WhooHoo - Look At Me - I Made The Paper & Did The Fed Move Create Opportunity

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Education & Training

So I was out on an appointment with an exceptional Realty Executives of Southern Arizona agent, and when I got back to my office I found one of those little yellow stickies saying "Call Christy at the newspaper". 

So I spent the next twenty minutes explaining:

  • What affects mortgage rates
  • What just watching the stock market can tell you about the future of mortgage rates
  • Why the Fed movement does not set mortgage rates
  • What to expect in the near future for mortgage rates 

I was quoted in the Arizona Daily Star today regarding the interest rate cut by the Feds, click here for the story.

HOW DOES THE FED MOVEMENT AFFECT RATES: 

Take a look at this chart.  It shows a period in January of 2001 when the Feds began a series of rate cuts that the 30 year mortgage was at 7%.  After those DEEP rate cuts, through May of 2002, the 30 year fixed rate mortgage was still at 7%.

Today I had a meeting with a prominent financial planner here in Tucson.  On the way to my meeting I hear a radio advertisement stating this:

"Hi this is _________ owner of _________ ______ Funding.  Now is a great time to refinance because the Federal Reserve just dropped mortgage rates 1/2 a percent.  That's right the Fed's lowered mortgage interest rates 1/2 percent."

As the owner of a successful mortgage brokerage, I was shocked at the misleading message from a seasoned pro.

If anybody out there would like me to post how mortgage rates are determined, just leave a comment and if there is any interest (LOL) I will go into detail in a later blog.

I like to get as much knowledge as I can to our Realtor community, so I have a special offer for you...

If you are a REALTOR in TUCSON ARIZONA and would like a FREE audio CD copy of Success Strategies For Today's Market: An Interview with David Jenks, co-author of the best seller The Millionaire Real Estate Agents email me at PDmtg@comcast.net.

I have paid quite a bit to procure the license to distribute a limited amount to Tucson Area Realtors, and it is yours for FREE...on one condition; you agree to meet with me, one of the top Loan Originators in Tucson for a cup of coffee.  If you aren't in Tucson, I still want to see your success, so shoot me off an email and I still may be able to get one to you.

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Show All Comments
Rainmaker
95,812
David L. Britt
Platinum Realty, LLC - Olathe, KS
MBA
Paul, congratulations on your stardom and free publicity!  Great feeling to see your name in lights!
Sep 19, 2007 03:35 PM #1
Rainer
46,546
Ilyce N. Powell
Financial Revitalize - Baltimore, MD
CMPS- Certified Mortgage Planning Specialist
Congratulations, Paul. Free publicity is the way to go. Keep it up!
Sep 19, 2007 03:51 PM #2
Rainer
51,579
Lexa R. Montierth
NextHome Complete Realty - Tucson, AZ
Real Estate Sales Agent and Marketer
Great job explaining things.  You will have to send me your CD...
Sep 21, 2007 06:14 AM #3
Anonymous
Paul
Lexa, I just got back from Vegas and will shoot one off to you ASAP. 
Sep 27, 2007 02:27 AM #4
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Rainmaker
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Paul Dunn

former orginator
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