Great news: The Home Affordable Refinance Program (known as HARP) has been extended until the end of 2016. The program has already helped more than 3.3 million borrowers refinance.
Borrowers whose mortgages are owned or guaranteed by either Freddie Mac or Fannie Mae may be eligible to refinance under the provisions of HARP. To determine eligibility, check these websites, or get in touch with me today:
This is important news for homebuyers who have been on the fence, and homeowners worried they missed the chance to lower their monthly payment. Here’s why…
Loan rates are influenced by economic news here at home as well as circumstances around the globe that make news headlines. Global instability of any kind, including the mere uncertainty over the impact of Britain’s decision on the global economy, has caused investors to move money out of riskier Stocks and into more stable or safer investments, including Mortgage Bonds here in the U.S.
Home loan rates are tied to Mortgage Bonds, so when Mortgage Bonds improve, home loan rates typically do as well … just like they did after Britain’s historic decision. But the reality is, we simply don’t know how long this rate opportunity will be available.
If you or anyone you know would like to discuss home loan rates, or whether refinancing makes sense at this time, please get in touch today. I’m here to help!
Find Out What This Really Means
While a “rate hike” may sound worrisome, it’s important to understand what this really means.
The Fed Funds Rate is the rate at which banks lend money to each other overnight. It is not directly tied to long-term rates on consumer products like purchase or refinance home loans.
This means that consumers should not expect an increase in home loan rates as a direct result of the Fed’s decision.
Instead, home loan rates are tied to Mortgage Backed Securities, which are a type of Bond. Many factors impact the performance of both Stocks and Bonds, and will play a role in the direction of home loan rates as we move into the new year.
For example, an improving economy, higher wages and higher inflation could all cause home loan rates to rise. However, if our economy falters, or if there is continued uncertainty and turmoil here or overseas, investors could seek out “safer” investments like Bonds, which could help keep home loan rates low.
The good news is that you don’t have to figure this out on your own. If you want to see if you can take advantage of today’s low rates, or if you have any questions about the housing market, current rates or loan products, please don’t hesitate to contact us.
|Many lead generation techniques require a significant time investment, but open houses can quickly generate warm leads. More importantly, open houses provide a non-threatening forum to showcase your expertise and service as well as start conversations with prospects about their wants and needs. Everything depends on how you market the event.
Here are five ways to generate maximum traffic and leads from your next open house:
Use targeted Facebook ads. Create an ad or a boosted post with your Facebook business page. Target local buyers, and offer something of value to the first 50 people who sign up online or mention your ad.
Offer a sneak peek. Drive competition with the power of an exclusive showing. Once you have sign-ups from your ad, let prospects know you can provide an advance showing before the event is open to the public.
Invite the neighbors. Stop thinking of them as nosy neighbors, and start thinking of them as more foot traffic. More traffic means higher perceived desire, better buzz on the house and, potentially, better offers.
Build a list. Ask visitors to sign the open house registry with their name, phone number and email. Encourage participation with a raffle, giveaway or free report to be sent a few days later.
Follow-up. Not having a follow-up plan is leaving money on the table. Call first, then drip your monthly newsletter—or try Open Home Pro with built-in follow-ups.
These tips will increase attendance at your open houses, create interest and make your time spent much more profitable!
Source: REALTOR® Magazine