March 28th, 2019
Mortgage rates are still on a major decline and are close to hitting their lowest levels since late 2017. Rates had their biggest weekly drop in a decade this week and, according to the MBA, it is contributing to a significant increase in mortgage applications going into the spring buying season. However, as we always stress when talking about rates, interest rate should NOT be the primary focus. Loan officers’ focus during this time of increased application volume needs to be about sticking with new habits (building value through benefits, spending time with borrowers, and focusing on true relationship and advocacy) and not returning to old ones (quoting rate, being transactional, not spending time with clients).