Mortgage News This Week with Joe Wiggins – Week ending May 1st, 2022
Overview of what the mortgage rate market did this week ending 5/1/22. Explanation of how the pricing works, the current rate trends, and how you can use tools like lock and shop to your strategic advantage to win new buyers and show sellers why they should work with you in this market.
I'm including some marketing material you can download and use as you see fit regarding the lock and shop program.
Talking points with Buyers for this week:
1. Rates are rising - let's get you locked now so you can shop stress free.
2. Dear Homebuyer, getting a great deal on a loan is important but even more important is getting your offer accepted. Ask me how we are able to make your offer to buy as close as you can get to a cash offer by eliminating the loan contingency from day one.
3. Home values remain in an upward pattern, so risk of waiting to buy is really where will rates be if you wait. Some experts are expecting up to 7% by this September - let's get you locked in now and see if we can find something that works within your budget now while rates are still lower.
4. My Lender can give you some below market rate options that are specific to your profile that you may not have seen yet.
Don't forget that with Us, your Buyer is getting the following:
1. Top notch service with insane 'speed to contact' along with live updates (to them and to you as their Realtor) through our partner portal system.
2. A customized total cost analysis that demystifies the loan options available specifically to them, so that they can shop with confidence.
3. The ability to lock their rate in NOW without being under contract for up to 120 days. If rate improves, we can float it down.
4. Fully pre underwritten at pre approval package issuance - this means you can make offers without a loan contingency if you wish.
5. Listing agent attraction system which includes digital text and video package highlighting your buyer's strengths (90% offer rate acceptance with this system).
Rates are rising, so if you have Clients who have come to you pre approved from Banks, Direct Lenders, Credit Unions, etc. that are getting priced out due to continual rate increases, just remember our rates are considerably LOWER (between .25 and .75 lower) than most retail competitors - this can keep your buyer in the game who has higher DTI, or who is just looking for a better deal.
I really enjoy working with you, hope you had an amazing weekend, and wish you a wonderful NEW WEEK AHEAD! Let's win!
I'm including some marketing material you can download and use as you see fit regarding the lock and shop program.
Talking points with Buyers for this week:
1. Rates are rising - let's get you locked now so you can shop stress free.
2. Dear Homebuyer, getting a great deal on a loan is important but even more important is getting your offer accepted. Ask me how we are able to make your offer to buy as close as you can get to a cash offer by eliminating the loan contingency from day one.
3. Home values remain in an upward pattern, so risk of waiting to buy is really where will rates be if you wait. Some experts are expecting up to 7% by this September - let's get you locked in now and see if we can find something that works within your budget now while rates are still lower.
4. My Lender can give you some below market rate options that are specific to your profile that you may not have seen yet.
Don't forget that with Us, your Buyer is getting the following:
1. Top notch service with insane 'speed to contact' along with live updates (to them and to you as their Realtor) through our partner portal system.
2. A customized total cost analysis that demystifies the loan options available specifically to them, so that they can shop with confidence.
3. The ability to lock their rate in NOW without being under contract for up to 120 days. If rate improves, we can float it down.
4. Fully pre underwritten at pre approval package issuance - this means you can make offers without a loan contingency if you wish.
5. Listing agent attraction system which includes digital text and video package highlighting your buyer's strengths (90% offer rate acceptance with this system).
Rates are rising, so if you have Clients who have come to you pre approved from Banks, Direct Lenders, Credit Unions, etc. that are getting priced out due to continual rate increases, just remember our rates are considerably LOWER (between .25 and .75 lower) than most retail competitors - this can keep your buyer in the game who has higher DTI, or who is just looking for a better deal.
I really enjoy working with you, hope you had an amazing weekend, and wish you a wonderful NEW WEEK AHEAD! Let's win!