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RonaldCommon Sense Approaches to Rate Increases!
Dear Friend,
Since the crashing of the markets during the Great Recession to the new rules implemented on January of this year, mortgage professionals have seen an ever-changing, even volatile market attempting to stabilize. Last week’s speech by Ben Bernanke threw the markets in a tailspin and was followed by 2 very bad days for the mortgage industry. For more about the impact of that speech you can go here: http://www.bloomberg.com/news/2013-06-21/rising-mortgage-rates-are-the-least-of-buyers-worries.html. Change is here but there are some common sense approaches that can help make all the difference in your business.
1. Use the sense of urgency to attract straddling clients off the sidelines and into the markets. Rates are going up but decent rates remain at present, that will not last forever and consumers need to know that.
2. Diversify the composition of your portfolio. Refinances have been king for a while now with historic low rates but that is quickly changing. Diversifying your book of business now will help you condition yourself for market changes and give some protection from volatile environments.
3. Be aware of upcoming reports and how they could impact rates. On Tuesday, this week, the Consumer Confidence & Durable Goods Report comes out. On Wednesday it will be the GDP, Thursday the Weekly Initial Jobless Claims and on Friday the Consumer Sentiment Index. No one has a crystal ball and can predict an up day here or a down day there but awareness can aid in communication, planning and execution.
As always, if TVG Processing can be of any assistance to you please do not hesitate to email us at Ronald@thevictorgroup.net, visit or site at www.thevictorgroup.net, or call 951-392-2148.
Since the crashing of the markets during the Great Recession to the new rules implemented on January of this year, mortgage professionals have seen an ever-changing, even volatile market attempting to stabilize. Last week’s speech by Ben Bernanke threw the markets in a tailspin and was followed by 2 very bad days for the mortgage industry. For more about the impact of that speech you can go here: http://www.bloomberg.com/news/2013-06-21/rising-mortgage-rates-are-the-least-of-buyers-worries.html. Change is here but there are some common sense approaches that can help make all the difference in your business.
1. Use the sense of urgency to attract straddling clients off the sidelines and into the markets. Rates are going up but decent rates remain at present, that will not last forever and consumers need to know that.
2. Diversify the composition of your portfolio. Refinances have been king for a while now with historic low rates but that is quickly changing. Diversifying your book of business now will help you condition yourself for market changes and give some protection from volatile environments.
3. Be aware of upcoming reports and how they could impact rates. On Tuesday, this week, the Consumer Confidence & Durable Goods Report comes out. On Wednesday it will be the GDP, Thursday the Weekly Initial Jobless Claims and on Friday the Consumer Sentiment Index. No one has a crystal ball and can predict an up day here or a down day there but awareness can aid in communication, planning and execution.
As always, if TVG Processing can be of any assistance to you please do not hesitate to email us at Ronald@thevictorgroup.net, visit or site at www.thevictorgroup.net, or call 951-392-2148.
Rising Mortgage Rates Are the Least of Buyers' Worries bloomberg.com
Ben Bernanke and the Federal Reserve have pretty much
signaled last call at the Bar of Insanely Low Mortgage Rates. With the Fed now
on record that it may begin to reduce its bond-purchasing program by the end of
this year -- suggesting the...
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