A lot of mortgage loan originators are breathing a huge sigh of relief since mortgage rates have come back down after the big spike up last month.
But don’t get complacent!
In the stock market, this is known as a “sucker rally” … it lures you into thinking the worst is over when in reality the market is getting ready to dive again.
How long will this refi boom reprieve last?
I don’t know and I don’t care.
I’m still pushing the loan originators at our small mortgage company to focus on building Realtor relationships by helping them generate home buyer leads using our free marketing systems.
In the Seattle area, and many other housing markets around the country, there is starting to be a lot of sales activity in the low-end starter homes.
If you wait until the housing market bounces back and the Realtors don’t need your help any more to generate business you will have missed a GOLDEN OPPORTUNITY!
Let the competition fall back into “refi boom” mode …
The smart loan originators who plan to be in business for long haul are focusing on the PURCHASE loan market now more than ever.
July 7, 2009
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