Truth and Math Matter Now!

Written by Posted On Monday, 22 February 2021 00:00

We have seen a real jolt to the bond market and pricing is trying to find a new level. This happens from time to time and those of us who have been at this for a while are prepared for the questions and reactions of our clients, prospects, and referral partners. A few simple things to remember: 

• You don’t control the rate markets! If a client wasn’t locked on their loan, or were “waiting” for the “bottom”, that was a risk they took, not you. Don’t feel guilty unless you lied!
• Do the math! Take a few minutes and share the actual costs in monthly payment in a move of .25% . Sometimes rates are an emotional hurdle until they see the actual dollars.
• Share offsets and strategies. Maybe we borrow less money to keep the payment where they are comfortable or maybe we buy down the rate?
• Remember that car payment of $350 a month was equal to about $70K in mortgage proceeds? What are some of the budgetary things people can do to make the new payment work? 

We also don’t know where this ride will take us. Please don’t predict the markets! Your ability to share real information is priceless! Get a few charts showing the rate market over the last two years, people got loans in the 3% and 4% range and were happy to have them! Just because we came off the bottom, doesn’t mean it’s no longer a good deal to buy a house or to refinance one. A good number of people have mortgages they are paying right now that have rates of 4% or higher!

Watch the markets and your own company pricing! Be honest and provide options! Don’t be surprised at all of those people who were trying to wait for the “bottom” who now think they have to act right away because they “missed it”.

We are in the loan business, not the rate projection or prediction business. Share the facts, tell the truth, and show the math! 

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Michael White

After 18 years working in all phases of mortgage originations, Mike left day to day originations to start his consulting and coaching company. Now, more than 18+ years later, Mike is working with clients across the country in all markets, big and small, that have generated more than three billion dollars in loan originations within a year.

Mike teaches a system that is focused on time management, action planning, marketing a message, and creating value for both clients and referral sources alike. Quite simply, providing more value leads to more opportunities, more income, less time, and a systematic approach that begs to be duplicated.


By breaking down individual aspects of the mortgage business and providing a step by step approach to creating a consistent flow of opportunities that can lead to a highly successful mortgage practice. That is why people who incorporate these strategies out produce the national averages by almost 3 to 1!

Fundamentals and simple strategies provide day to day activities that help provide a “scheduled success” philosophy. It’s all about identifying, targeting, and establishing profitable referral relationships using exceptional value to keep you in the center of your own referral triangle.

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