The Trend IS Your Friend

Time to really pay attention to a possible trend that could make for a big opportunity for you in the months to come; and that opportunity is REFINANCES!

Yes, I said refinances! If you follow the rate market, you will notice that interest rates are approaching significant levels compared to last year. In fact, if you look back at loans you closed between last March & December (2018), you will see that there might be some refinance opportunities to take advantage of? Clearly you have to be careful of EPOs and your company’s policy regarding any time restrictions you may have with your investors, but those opportunities might be out there for you to take advantage of. I’m not saying that it is time to abandon the purchase business, not by a long shot! The purchase arena is doing quite well for many of us right now and I expect a very solid first half of 2019, but part of your job is to manage these obligations over time and now might just be the time to take a good look!

The other trend we are seeing across the country is the power of explaining the rent vs. own analysis! In most markets across the country renting is not a great value! In fact, the effect cost rate on rent is 100%! No benefit financially, all the money is spent and is GONE! Owning has a number of advantages, the least of which is equity! Some of each payment is paying down principle and building wealth! The ongoing property appreciation is also a huge benefit and depending on your local rates of appreciation, it could be more significant than you ever thought!

February is a time for accumulation and execution of the strategies that push the beginning of the market. Use the tools! Take advantage of the strategies we are sharing. Get out in front of the market as a true mortgage professional and share many of the opportunity generating ideas with your referral partners! The possibility of some bonus refinance activity is great, but the strength of the purchase market building will depend on how you have positioned yourself!

Questions or comments: Mike@IMTcoaching.com

Published by

Mike White

Improve My Tomorrow Coaching is a company founded by Michael F. White to help mortgage professionals reach their true potential. Based on a belief that working the fundamental principles of the loan origination business combined with a solid system to leverage your day to day business into a self sustaining career! If you are looking to generate consistency in your business, you need to know and implement the fundamentals. Once you know what to do and when to do it, being a mortgage professional is fun, challenging, and profitable. Since the average loan originator in the country closes less than three loans a month, the average originator is unaware that closing seven, ten, twelve or more loans per month is often easier and less stressful than just two or three! If you are tired of the pain and punishment of not knowing where your next deal is coming from; if you spend more time being “busy” instead of “productive”; you need to look and see how we can help you get to a whole new level of business. Take some time to explore this website and read all the free information. If you find some things that cause you to rethink how you are currently doing your business, let us help you! It starts with YOU! There are two programs you can choose, a group program and private coaching. Please look at both before you make your choice.

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