The Mortgage Bankers Association said that purchase loan applications were down 10% last week. While I don’t contest that those are the numbers reported back to them, the numbers reporting back to me from my clients around the country, is that applications, along with contracts, and requests for preapprovals continues to climb. In some cases, dramatically!
Granted I have a much smaller sample size, companies and branches in Florida, Texas, Arizona, Washington. Indiana, and Colorado are my only contributors, however, ALL are showing growth in activity. So maybe it’s just a fluke, or maybe it’s too small a sample? Could be those are just really active areas, sure, but all I know is that people who are committed to working are seeing solid results!
Either way, there is business out there to be done and you need to get out and get in front of it. Even if that means you have to help create the opportunities along with your referral partners! Get out and engage the public! Covid is over! Winter is over! You have to pick your strategies, share them with people, and get out and make it happen!
This market ISN’T going to come and find you! You have to get out and make the case as to WHY now is the time to sell that house and buy the one they really want! Now is the time to convert renters into homeowners! Now is the time to talk about WHY they SHOULD move forward and not to stay put just HOPING that things will get better.
I don’t believe we will see rates back down to 2%. But if they do, you can refinance them. I don’t believe that there will be a housing bubble because we have far more families forming than homes being brought to market!
Now is the time to act and work your plan. That plan must include TALKING to people! They aren’t going to call you if they don’t know WHY they should!
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