Interest Rates
If you are in the market for a new mortgage the first thing you think about is, “what are rates at?” - right? So, naturally you begin the research process, which for most begins with the internet. Initially, by visiting a few sites you get a base idea on current rates. But, maybe you are confused over the vast differences you find and then eventually seek out what your rate is going to be. A couple of emails and a few phone calls later you are still confused at the differences you are seeing. You are not alone!
Believe it or not, something as simple as a 30 year fixed rate has significant complexity. Having a base understanding of this complexity will make it clear if you are working with the right lender who can deliver you the best rate available, not to mention advise you on the best interest rate strategy. Or the wrong lender who is only concerned with cutting corners as it relates to your financial welfare. And always remember, the lowest interest rate doesn't mean much unless that lender can get it closed under those terms.
Here I have provided you with a fantastic seven minute tutortial to help you better comprehend mortgage interest rates.
How I Manage Interest Rates
Now you understand mortgage rates are fluid and subject to a significant amount of influence and volatility. No lender, myself included, can ever guarantee you the lowest rate. But what I can guarantee you is, when you work with me you will get a lender who is connected directly to the Mortgage Backed Security market and has the experience and knowledge to comprehensively intrpret interest rates. Furthermore, by personally managing your transaction and your long-term position, I can say the probability for acquiring the best available rate is significantly higher when you work with me, than any other process you may use. My clients always receive the best performing mortgage for their specific situation. Here is how.
In addition to being very skilled at understanding the interest rate market, I also have a number of other capabilities to ensure you a successful interest rate. As a Correspondent Mortgage Banker I represent all the big-name banks in the country. Thus, I am intimately familiar with the rates being offered at all institutions in real-time. And, since we handle all our loans administrative functions in-house, with massive efficiencies, I can provide interest rates consistently superior to the marketplace. With such diversity I can remove a tremendous amount of risk to my clients, because on any given day one institution may be more aggressive/competitive with their interest rates than another as they try to balance out their own loan portfolios. So, working with my multiple institutions and outlets I have significantly reduced your risk to individual portfolio management decisions.
I also manage each of my clients personally. Together, we review candlestick charts like the one described in the above video and discuss the best strategy for LOCKING or FLOATING. I invest in such software, tools, and news services so I can assure my clients their mortgage will always outperform.
The final aspect of managing your interest rate is as a Certified Mortgage Planning Specialist, I can accurately provide you with options on the larger financial implications of the mortgage you select. I have many diagnostic tools, including a Total Cost Analysis, to clearly differentiate between mortgage strategies so you can choose the best approach for your financial security. In the end a mortgage is really no different than any other financial product, like an IRA for instance. How you choose to utilize it will make thousands of dollars difference in your financial future. Which is why as a CMPS, I am uniquely qualified and trained to provide you with a comprehensive look at all the financial implications of the mortgage you select.