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“I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.”  Jimmy Dean

Listening to the financial news during the day sometimes reminds me of being out in a sailboat when storms are approaching.   You have to pay attention, with one hand on the tiller and the other ready to adjust the sail to ensure you don’t end up being blown into the drink. 

The Federal Reserve has been buying billions of dollars in mortgage-backed securities.  This committed action by the Fed has been artificially keeping mortgage rates low.  The Fed has hinted that they may taper off on this activity sooner rather than later, which would pressure mortgage rates higher. No one knows when the winds will turn, though.   Currently, rates are still hanging around the 2’s and 3’s, generally speaking. 

No matter which way the wind is blowing, most financial gurus tout in their publications and podcasts that increasing your income or reducing your debt or both will build a stable infrastructure financially. Thanks to a perfect storm, we now have insanely low mortgage rates and an unprecedented rise in home values.  

How are some of my savvy mortgage clients handling their boats in the windstorm?

1. Reduce debt at a cheaper, stable, fixed interest rate.  

“Money’s cheap. You might as well borrow it,” said Dessie Danforth (not her real name.)  Dessie explored a couple of refinance options to reduce the interest rate she was paying on her mortgage and lower the interest cost on other debt by rolling the other debt into her new mortgage.  This refinance scenario saved Dessie several hundred dollars per month in overall debt that she committed to using to make extra payments to get rid of all of her debt sooner. 

2. Buy a house. Start building personal wealth. 

Byron’s lease was about to expire on the apartment, and his neighbors had already told him to get ready for a hefty rent increase.  
“Not this time,” Byron vowed.   He got his real estate team of professionals together to get preapproved for the mortgage to give him the terms he wanted.   His realtor worked with him, and we put together some winning strategies so his home purchase offer would sail on through to acceptance

3. Use a cash-out refinance to upgrade and modify the home.

The Franklin’s decided it would save a lot of money to bring her mother home to live with them.  The cash out to a low fixed-rate mortgage gave them the funds they needed to modify the home so her mother and the Franklins could live together but enjoy the privacy of their own space.  


Some of the best clients we can have as real estate professionals are those clients who know what they want and why they want it.  These customers have consulted with their financial advisors, and they have a vision for the life they want to achieve. 

When we asked the right questions, these clients tell us what we need to know. We can use our knowledge and resources to help them get the house and the financing terms that will put them on course to the life they want.

Posted On Monday, 28 June 2021 00:00 Written by

June is coming to an end and with it the first half of 2021. Now is the time to spend an hour or so to review your year-to-date numbers against your business plan and see where the data takes us. Things to look for:

• Purchase/refinance numbers
• Referral partner closed referrals
• Sources of opportunities
• Marketing/prospecting response
• Reality (including those currently in your pipeline and preapproved) compared to projections 

Once we have this data, we can also see who was involved in our purchase transactions on the listing side of our deals and see who we enjoyed working with and check their numbers to see if it is worth investing time and energy to make an approach? Remember, we aren't looking to grow numbers, we are looking to grow quality!

We also must check our systems to be sure everything is working as intended and make changes as needed. No system is perfect forever! Last, we must be sure our vacations/time off is scheduled! After a year of COVID-19 we all can benefit from vacations more than ever! 

If you need any help in setting any of these items up, just go to the website and use the "Business Planning Module" to guide you. You are also welcome to contact me: This email address is being protected from spambots. You need JavaScript enabled to view it. 

Posted On Monday, 28 June 2021 00:00 Written by
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