If rates DO drop to 4.5% are you ready?

Services for Real Estate Pros with MorSystems.com

If rates DO drop to 4.5% next week, are you ready to capture a flood of clients? Do your clients have a way to apply with you online when they get home late from work?

The US Treasury may buy up mortgage-backed securities from Fannie Mae and Freddie Mac to maniplate the supply and hit a target rate of 4.5%. 

If this happens, guess what, the TODAY show and your local newspaper will blast stories that NOW is the time to refinance and to run to the nearest (probably bank) but hopefully they mention mortgage broker and loan officer too this time...

If you're planning on sending a postcard, email, newsletter etc. telling prospects, clients and referral partners about this great news, do you include a website address at the bottom of your marketing pieces? If not, you're missing out.

If you do direct them to a website, are you confident that you are gaining credibility and getting loan apps/contact requests once they visit your website?

Your website MUST

  • Gain you credibility, instantly
  • Offer easy ways to apply/contact you
  • Offer valuable info and tools and up to date news

You should also write blogs and link to them from your site, a well written curent blog on an important subject gains you credibility and really does make you THE trusted advisor in your visitor's eyes.


Don't forget, your marketing pieces need to direct people to a website that will gain you credibility, enough so for them to ACT and complete your loan app, email you, or call you.

Mortgage Web Site


Comments (14)

Ray Cox
ERA Brokers Consolidated - Saint George, UT

I hope the Lenders are ready to work hard, get deals done and make some money, because the business is coming. 

PS, when you make the money, go out and spend some of it (be prudent of course) and lets get the economy rolling.

Dec 04, 2008 10:34 AM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

So far they have only said..."if" to whether the new rate is coming and that it applies to new home loans only not to refinancing.  There are way to many homes that wouldn't even qualify for refinancing as the loan to value ratio is to low.  With no equity and market value below loan value banks are going to have to figure out a way to equalize the market before refinances are going to work.

Dec 04, 2008 10:35 AM
Matt Stigliano
Kimberly Howell Properties (210) 646-HOME - San Antonio, TX

Shelly - I'm actually spending this weekend getting prepared in a bunch of different ways.  Bring them on.  With low rates and great prices here in San Antonio, we could clean up our inventory in no time.  People are out there waiting, I speak to them all the time...this would probably sell a lot of people on the idea that "now is the time."

Dec 04, 2008 10:35 AM
David Robbins
Golden Lenders, LLC - Golden, CO

I hope the 4.5% speculation becomes a reality and that rate stays around for at least 2 quarters or so.

Dec 04, 2008 10:38 AM
David Smith
United Country - Homeplace Properties - Capon Bridge, WV

I heard on the radio this evening that this low interest rate is going to be for the purchase of homes only.  No refinancing is allowed in this program.  Is somebody hearing different?

Dec 04, 2008 10:39 AM
Shelly Whitworth
MorSystems.com - Carmel, CA

purchase/refi -

speculation still, differing reports on whether it's just purchase or not, we'll see!!

Dec 04, 2008 10:47 AM
Shelly Whitworth
MorSystems.com - Carmel, CA

It would be a big Christmas present for us and would literally solve the problems of foreclosures bringing home values down within a month or two. Lets hope "if" materializes into real lower rates :)



Dec 04, 2008 10:51 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I just had a client get quoted 4.87 on a vacation home, fully qualified to buy, reserves, credit and income.  I think we may be there!

Dec 04, 2008 10:51 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

OMG just scrolled up and saw your picture.  You look TOO fun!

Dec 04, 2008 10:52 AM
Marie Westerman
Blanchard and Calhoun Real Estate/ Wilson Parker Homes - Evans, GA
New Homes Sales Specialist Evans GA REALTOR

I PRAY the rates drop to that!!

Dec 04, 2008 10:58 AM
Shelly Whitworth
MorSystems.com - Carmel, CA

:) I brought the Tide pen to a wedding and needed it!!!!

Yes, it's not that much lower than where we're at right now, and your marketing pieces should remind people that historically, anything under 7% is GOLDEN -

People get a feeling that they "missed out" if they don't get 4.75% but can get 5.25% - your marketing should steer them away from that "I missed out" mantality b/c in this crazy market the rates can do anything on a day to day basis with little warning!!!! When my dad started his business rates were at 18%. B/C of this, anything under 7% is golden and the public/your prospects need to know that and feel good about their rate.



Dec 04, 2008 10:58 AM
Jeremiah Wean
Lakewood Lending Group, LLC (NMLS#132141) - Indianapolis, IN
I still fill that 6.5 is a great rate I can remember the 10's and even sprinkle in a little 15 on occassion. I'm already seeing an uptick and the builders are starting to rev up their engines as well. Maybe it will be just in time to offset the big 3
Dec 04, 2008 11:01 AM
Mike Klijanowicz
Cummings & Co. Realtors - Perry Hall, MD
Associate Broker @ Cummings & Co. Realtors

I don't think it is a question of if, but WHEN!  It IS going to happen and we all better be ready to get em in and close em fast!

Dec 04, 2008 11:11 AM
Robert Schwabe
EXP Realty - Orange Park, FL
Orange Park Real Estate

Shelly -All the leads I've been incubating over the last few month will probably buy.

Dec 04, 2008 01:15 PM