Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)

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Rainmaker
832,500
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Not mine BUT I can understand why yours is...

Mar 16, 2020 03:53 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

No, my phone has been ringing with inquiries on properties, but not interest rates.

However, I have recieved emails from plenty of lenders, informing everyone that the rate the govt gives out will not be translating to our clients, lenders are busy and do not have time to process the surplus of apps that such a drop would generate, and of course the lender does need to make a buck too so they will not be giving out any zero percent loans.

Mar 16, 2020 02:52 PM
Rainmaker
3,555,235
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I hope the flurry leads to business and not fury.

Mar 16, 2020 12:54 PM
Rainmaker
1,709,587
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I am NOT experiencing the same but I'm sure it will lead to a flurry of business for me as a Notary Public loan closer.

Mar 16, 2020 11:45 AM
Rainmaker
1,530,264
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

I have not received interest rate questions but thanks for the link!

Mar 17, 2020 05:15 AM
Ambassador
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Actually calls are abput other matters, not the interest rates! Thanks for the article - I hadn't seen it.

Mar 16, 2020 03:52 PM
Rainmaker
4,270,291
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Many think when the Fed drops the interest rate, that it equates directly to the mortgage interest rate.  Not so! 

Mar 16, 2020 03:29 PM
Rainmaker
4,742,408
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

That makes sense Gene.  Hopefully you get business from these calls.  A

Mar 16, 2020 12:28 PM
Rainmaker
3,125,205
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

That is great information Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi as everyone seems to asking questions, some concerned and some excited thinking they will gte a 0% mortgage. 

Mar 17, 2020 05:46 AM
Rainer
259,807
Caroline Gerardo
Pinnacle Home Loans - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Now up to 43 calls about wanting zero, how I wish it were so

Mar 16, 2020 06:57 PM
Rainmaker
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Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I'd ask Jason E. Gordon  he just posted this morning on this in the Q&A here. Additionally, but what I've heard so far (elsewhere) is The Fed's drop in rates will not have much of a direct correlation on the mortgage rates. But, The Fed is going to stabilize the stock market with a $700 Billion dollar injection into mortgage backed securities. Rates were under 3% two weeks ago, last week jumped to over 4%, but rumor is they are coming back down slowly.

Mar 16, 2020 02:33 PM
Rainmaker
1,978,028
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Refinancing when so so far into an accellerated mortgage pay down might not be worth it. Every case is different and thanks for the links Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi You are the AR bank man money guy.

Mar 17, 2020 09:14 AM
Rainmaker
2,858,017
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

People think because the Feds drop the rate the interest rates are automatically dropping as well. 

Mar 17, 2020 08:55 AM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I have had a few folks inquire but, the last day has been about buying and selling - the physicality of it. Thank you for sharing this for us to share, Brother Gene!

Mar 17, 2020 06:22 PM
Rainmaker
5,687,204
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Smart consumers will take advantage of the very attractive mortgage interest rates.

Mar 17, 2020 10:32 AM